Personal Property Law
What is Personal Property?
Personal Property, also called “movable property,” “personalty,” “movables,” or “chattels,” include virtually any form of property other than real estate. The distinguishing characteristic between real and personal property is that, in most instances, the personal property is transportable, such as vehicles, furniture, electronics, boats, cars, collectibles, etc.
Classifications of Personal Property
There are a number of different types of personal property. For example, tangible personal property refers generally to any object that can be moved, touched, or felt. “Moved” in this context means that it has not been integrated into a building or land, becoming a fixture and a piece of the real property. Some forms of tangible personal property will include titles demonstrating ownership, like cars and boats, but most do not.
Intangible personal property (or "intangibles") are, as the name implies, things that cannot actually be moved, touched, or felt, but instead represents something of value. A few examples include negotiable instruments, securities, and other types of investments.
Personal Versus Private Property
Another important distinction is the difference between personal and private property. Private property is less a legal distinction and more a social one. If something is intended only for the use of a single individual or small group of individuals, one might refer to it as “private property.” However, despite the similar sounding name, personal property is not necessarily private. Personal property, legally speaking, only differentiates a piece of property as being something that is movable versus the fixed nature of real property.
For more information about Personal Property, please visit the resources listed below. Additionally, should you require assistance with a legal matter pertaining to personal property, you can find an attorney in your area by visiting our Law Firms page.
Personal Property Law - US
- ABA - Real Property, Trust and Estate Law Section
The Real Property, Trust and Estate Law Section is a leading national forum for lawyers, and currently has over 30,000 members. The Real Property Division focuses on legal aspects of property use, ownership, development, transfer, regulation, financing, taxation and disposal. The Trust and Estate Division focuses on all aspects of trusts, estate planning, employee benefits, insurance, and probate and trust litigation.
- Asset Forfeiture Program - Department of Justice
The primary mission of the Department of Justice Asset Forfeiture Program is to employ asset forfeiture powers in a manner that enhances public safety and security. This is accomplished by removing the proceeds of crime and other assets relied upon by criminals and their associates to perpetuate their criminal activity against our society. Asset forfeiture has the power to disrupt or dismantle criminal organizations that would continue to function if we only convicted and incarcerated specific individuals.
- Hybrid Law
Hybrid Law tracks laws concerning ownership of hybrid cats and dogs in the United States, and where possible other countries. Legislation is listed by state and may include county and city. Laws, statutes, ordinances and regulations from all levels of government affect the ownership of exotic and hybrid animals. It is strongly recommended that county and city laws, and homeowners’ association rules be researched prior to buying or selling any hybrid animal.
- Personal Property - Definition
All property other than land and buildings attached to land. Cars, bank accounts, wages, securities, a small business, furniture, insurance policies, jewelry, patents, pets, and season baseball tickets are all examples of personal property. Personal property may also be called personal effects, movable property, goods and chattel, and personalty.
- Saving Anitiques Organization
Welcome to savingantiquities.org The SAFE online resource that highlights issues related to the vulnerability of our shared cultural heritage to looting and the illicit antiquities trade.
- Uniform Commercial Code (UCC)
The Uniform Commercial Code is a comprehensive set of laws governing commercial transactions between U.S. states and territories. These transactions include borrowing money, leases, contracts, and the sale of goods. The UCC is not a federal law, but a product of the National Conference of Commissioners on Uniform State Laws and the American Law Institute, private organizations that recommend the adopting of the UCC by state governments. State legislatures may either adopt the UCC verbatim or may modify to meet the state's needs. Once a state's legislature adopts and enacts the UCC it becomes a state law and is codified in the state's statutes. All 50 states and territories have enacted some version of the UCC.
- United States Patent and Trademark Office (USPTO)
The United States Patent and Trademark Office (USPTO) is the Federal agency for granting U.S. patents and registering trademarks. In doing this, the USPTO fulfills the mandate of Article I, Section 8, Clause 8, of the Constitution that the Executive branch "promote the progress of science and the useful arts by securing for limited times to inventors the exclusive right to their respective discoveries." The USPTO registers trademarks based on the Commerce Clause of the Constitution (Article 1, Section 8, Clause 3). Under this system of protection, American industry has flourished. New products have been invented, new uses for old ones discovered, and employment opportunities created for millions of Americans. The strength and vitality of the U.S. economy depends directly on effective mechanisms that protect new ideas and investments in innovation and creativity. The continued demand for patents and trademarks underscores the ingenuity of American inventors and entrepreneurs. The USPTO is at the cutting edge of the Nation's technological progress and achievement
Organizations Related to Personal Property Law
- Forfeiture Endangers American Rights Foundation
Forfeiture Endangers American Rights is a national nonprofit organization dedicated to reform of federal and state asset forfeiture laws to restore due process and protect property rights in the forfeiture process.
Articles on HG.org Related to Personal Property Law
- Passing the Estate to Nonfamily Members: Expert WitnessIn some situations, a person may wish to pass his or her property to a business partner, friend, church member or other individual outside of his or her own family. Understanding what heirs are and any statutory right to inherit is important. An expert witness can explain the steps that are legally necessary to effectuate this transaction and whether they were or were not present in a specific situation.
- What Does Texas’s Community Property Law Mean for Your Divorce?Under Texas law, most assets that either spouse acquires during a marriage will be deemed community property when the spouses divorce. If you are preparing to end your marriage, here are some key facts to know about protecting your interest in community and separate property.
- Are Irrevocable Trusts in New Jersey a Good Idea?Although there are some circumstances where a revocable trust is useful it is usually not necessary.
- Estate Planning with Revocable Living Trusts to Avoid ProbateProbate is a costly, stressful, time consuming process that many estates must go through upon the death of a loved one. Luckily, with proper estate planning using Revocable Living Trusts, it is absolutely possible to avoid probate. As a Cleveland, Akron area estate planning attorney, we help clients avoid probate and save thousands of dollars on probate fees, reduce the stress and hassle of going to court, and make the loss of a loved one much easier to deal with.
- What Is Power of Attorney in New Jersey?Perhaps one of the most vital, and frequently neglected, aspects of personal and estate planning is legal and financial protection, in the event of incapacity or disability. Many older people, and their families, fear that the onset of physical or mental disability for their elderly loved ones as they advance in age.
- Remember to Include Incapacity in Your Estate PlanThe purpose of estate planning is to guide the transfer, and management, of your property in a manner that makes sense for your family. While it may sound simple, it can only be achieved through careful planning. Failure to plan carefully may result in unintended beneficiaries receiving your property, or result in unnecessary transfer taxes.
- Prenuptial Agreements: Are They Really Necessary?Why are your children so concerned about your new life? Are they overreacting?
- Estate Planning: Clarifying Your WishesThe reality is that estate planning is necessary for everyone — no matter the value of their assets.
- Elder Law and Estate PlanningToday it's more important than every before to plan your estates. People are living longer and thus acquiring more assets, it is imperative that you protect those assets.
- A Trustee’s Responsibilities Administering a California Living TrustEstate planning clients often have a lot of questions about their obligations as a trustee of their living trust. Where the acting trustee is also the creator or “grantor” of the trust, the trustee typically has plenary power to act on behalf of the trust and may amend or even revoke the trust in its entirety.
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