personal property

personal property
In broad and general sense, everything that is the subject of ownership, not coming under denomination of real estate. A right or interest in things personal, or right or interest less than a freehold in realty, or any right or interest which one has in things movable. Generally, all property other than real estate; as goods, chattels, money, notes, bonds, stocks and choses in action generally, including intangible property. Bismarck Tribune Co. v. Omdahl, N.D., 147 N.W.2d 903, 906.
It is sometimes designated as personalty when real estate is termed realty. Personal property also can refer to property which is not used in a taxpayer's trade or business or held for the production or collection of income. When used in this sense, personal property could include both realty (e.g., a personal residence) and personalty (e.g., personal effects such as clothing and furniture). Personal property includes money, goods, chattels, things in action, and evidences of debt. Calif.Evid.Code.
Personal property is divisible into
(1) corporeal personal property, which includes movable and tangible things, such as animals, furniture, merchandise, etc.; and
(2) incorporeal personal property, which consists of such rights as personal annuities, stocks, shares, patents, and copyrights

Black's law dictionary. . 1990.

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