where the property is physically located.
The place where property is legally situated, the more or less permanent location of the property. Property Tax Rule 203, 204, & 205 of the California Code of Regulations.
in real estate, the physical location of a property; in personal property, the taxable location because personal property may be moved from one place to another.
Location of property for taxation purposes.
A term used to refer to the economic location of a particular parcel of land. Economic location is an important factor in determining the success or failure of real estate. The importance of location is due largely to the fact that individuals need specific types of land for specific uses at specific places.
Geographic location of land based on its economic significance. The economic attributes of location, including the relationship between the property and surrounding properties, as well as distant points of interest and the linkages to those points. Situs is considered to be the aspect of location that contributes to the market value of a real property.
The location or position of a property. For intangible property, such as debt, the situs is probably the jurisdiction in which the debt obligation was issued.
In law, the situs (pronounced "sÄ«'tÉ™s") (Latin for position or site) of property is where the property is treated as being located for legal purposes. This may be important when determining which laws apply to the property, since the situs of an object determines the lex situs, that is, the law applicable in the jurisdiction where the object is located, which may differ from the lex fori, the law applicable in the jurisdiction where a legal action is brought. For example, real estate in England is subject to English law, real estate in Scotland is subject to Scottish law, and real estate in France is subject to French law.