751-6 DEFINITION OF RESOURCES
A resource is cash, or an asset that can be converted to cash. Resources include the following things:
Real Property
Land and permanent attachments to land such as minerals and timber,
also structures and improvements erected on and affixed to the land
such as houses, barns, garages,etc.
Personal Property
Everything owned other than real property. Personal property
generally consists of things temporary and movable in nature including
household goods, personal effects, savings, stocks, bonds, vehicles,
livestock, tools and equipment, promissory notes, life or burial insurance
policies, or pre-paid burial contracts.
Business Property
Any real or personal property owned and used for the purpose of producing
income including such things as buildings, equipment, and crops.
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