Personal Estate (Noun)
Meaning
Movable property (as distinguished from real estate).
Classification
Nouns denoting possession and transfer of possession.
Examples
- The probate court was responsible for distributing the deceased person's personal estate, including jewelry, furniture, and other valuables.
- Her personal estate was substantial, consisting of a large collection of rare coins and artwork.
- The will specified that the personal estate was to be divided equally among the three children.
- The executor of the estate was tasked with appraising and selling the personal estate to pay off outstanding debts.
- The tax laws governing personal estate are complex and often require the assistance of a professional accountant.