Personal Property definition: Copy, customize, and use instantly
Introduction
The term "Personal Property" refers to movable assets or possessions that are not fixed to land or buildings. It is crucial in legal contexts, particularly in contracts concerning sales, security interests, leases, and inheritance. Defining "Personal Property" ensures clarity about which assets are subject to specific terms or legal actions in various agreements.
Below are various examples of how "Personal Property" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Personal Property" as movable assets
This definition ties "Personal Property" to physical assets that are not immovable.
"Personal Property" means any movable property or possessions, including goods, equipment, and machinery, that are not permanently attached to real estate.
Definition of "Personal Property" as tangible assets
This definition connects "Personal Property" to physical, tangible assets.
"Personal Property" refers to tangible assets, including furniture, vehicles, and machinery, that can be physically moved or transported.
Definition of "Personal Property" as defined in a lease agreement
This definition links "Personal Property" to property involved in lease contracts.
"Personal Property" means any property leased by the lessor to the lessee, excluding real estate, which can include machinery, furniture, or other items.
Definition of "Personal Property" as assets under a security interest
This definition ties "Personal Property" to assets covered by a secured transaction.
"Personal Property" refers to assets pledged as collateral under a security interest, excluding real property or immovable fixtures.
Definition of "Personal Property" as defined in a sale agreement
This definition connects "Personal Property" to property involved in a sale.
"Personal Property" means any goods, equipment, or tangible items being sold, which are not affixed to land or buildings.
Definition of "Personal Property" as intangible property
This definition links "Personal Property" to intangible items.
"Personal Property" refers to intangible property, including intellectual property, patents, trademarks, and copyrights, which are legally considered movable assets.
Definition of "Personal Property" as movable goods
This definition ties "Personal Property" to goods that are physically movable.
"Personal Property" means goods and other movable items that are not part of real property, such as vehicles, machinery, and office equipment.
Definition of "Personal Property" as property in a divorce settlement
This definition connects "Personal Property" to assets considered during divorce proceedings.
"Personal Property" refers to all tangible personal assets, such as furniture, jewelry, and vehicles, that are divided in a divorce settlement.
Definition of "Personal Property" as assets in an estate
This definition links "Personal Property" to assets in an inheritance context.
"Personal Property" means any movable assets or possessions owned by a decedent, such as cash, jewelry, and automobiles, that are distributed in the estate.
Definition of "Personal Property" as property in an insurance claim
This definition ties "Personal Property" to items covered by insurance policies.
"Personal Property" refers to any property covered by an insurance policy, including household goods, electronics, and personal belongings.
Definition of "Personal Property" as assets held by a trustee
This definition connects "Personal Property" to assets held in trust.
"Personal Property" means any movable property held by a trustee for the benefit of beneficiaries, excluding real property.
Definition of "Personal Property" as movable property in a financing agreement
This definition links "Personal Property" to assets financed through a loan agreement.
"Personal Property" refers to any movable property that is subject to a financing agreement, such as equipment, inventory, or vehicles.
Definition of "Personal Property" as defined in a rental agreement
This definition connects "Personal Property" to items rented by a party.
"Personal Property" means any items rented or leased, excluding real estate, that are used for residential or business purposes.
Definition of "Personal Property" as property for tax purposes
This definition ties "Personal Property" to tax classifications.
"Personal Property" refers to any movable asset that is subject to property taxes, excluding land and buildings, including machinery, vehicles, and equipment.
Definition of "Personal Property" as property in an acquisition
This definition links "Personal Property" to acquisitions or mergers.
"Personal Property" means all movable property and assets, including inventory, intellectual property, and equipment, acquired in a business acquisition.
Definition of "Personal Property" as defined in a security agreement
This definition connects "Personal Property" to a security interest in contracts.
"Personal Property" refers to any property pledged as collateral in a security agreement, excluding real property or fixtures.
Definition of "Personal Property" as property in a loan collateral
This definition ties "Personal Property" to assets used as collateral in loans.
"Personal Property" means any tangible property that is used as collateral for a loan, including vehicles, machinery, or inventory.
Definition of "Personal Property" as property to be transferred
This definition links "Personal Property" to property intended for transfer.
"Personal Property" refers to any movable property that is to be transferred, including equipment, goods, and assets, not attached to real estate.
Definition of "Personal Property" as personal items
This definition connects "Personal Property" to individual possessions.
"Personal Property" means personal items owned by an individual, such as clothing, jewelry, electronics, and household items.
Definition of "Personal Property" as property in bankruptcy proceedings
This definition ties "Personal Property" to bankruptcy estate assets.
"Personal Property" refers to assets that are part of the debtor's estate in a bankruptcy proceeding, excluding real property, and includes personal effects and equipment.
Definition of "Personal Property" as property owned by a corporation
This definition links "Personal Property" to corporate assets.
"Personal Property" refers to any movable property owned by a corporation, including office supplies, machinery, and inventory, but excluding real estate.
Definition of "Personal Property" as items in a security interest
This definition ties "Personal Property" to assets used for securing obligations.
"Personal Property" refers to any property subject to a security interest, excluding real estate, including vehicles, machinery, and goods.
Definition of "Personal Property" as property for investment purposes
This definition connects "Personal Property" to assets held for investment.
"Personal Property" refers to any asset, such as stocks, bonds, or other movable property, that is held for investment purposes.
Definition of "Personal Property" as collateral in a pledge agreement
This definition ties "Personal Property" to assets pledged in a contract.
"Personal Property" refers to any movable asset pledged as collateral in a pledge agreement, excluding real property.
Definition of "Personal Property" as an asset in a joint venture
This definition links "Personal Property" to a business partnership context.
"Personal Property" means all movable property held as part of a joint venture, including equipment, inventory, and intellectual property.
Definition of "Personal Property" as assets in a financing transaction
This definition connects "Personal Property" to financing arrangements.
"Personal Property" refers to any tangible asset that is financed or loaned under a transaction, excluding real property.
Definition of "Personal Property" as a subject of sale in a transaction
This definition ties "Personal Property" to assets in a sale.
"Personal Property" means all movable assets being sold in a transaction, excluding any land or buildings.
Definition of "Personal Property" as movable items in a property sale
This definition links "Personal Property" to a property sale agreement.
"Personal Property" refers to movable items sold alongside real estate but are not considered part of the real property, such as furnishings or equipment.
Definition of "Personal Property" as equipment in a commercial lease
This definition ties "Personal Property" to leased equipment.
"Personal Property" means all equipment and machinery leased by the lessee under a commercial lease, not including any real property.
Definition of "Personal Property" as items in a probate estate
This definition connects "Personal Property" to probate estate matters.
"Personal Property" refers to items included in the probate estate, such as vehicles, artwork, and household goods, which are not classified as real property.
Definition of "Personal Property" as used in a property settlement
This definition ties "Personal Property" to asset division in legal settlements.
"Personal Property" means any movable property subject to division in a property settlement, including household goods, personal effects, and vehicles.
Definition of "Personal Property" as an asset in a liquidation process
This definition links "Personal Property" to asset sales during liquidation.
"Personal Property" refers to any movable property being liquidated, including office equipment, machinery, and inventory, but excluding real estate.
Definition of "Personal Property" as goods in a warehouse lease
This definition connects "Personal Property" to goods stored in warehouses.
"Personal Property" means goods or items stored in a warehouse under a lease agreement, which are movable and not fixed to real property.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.