Personalty (Noun)
Meaning
Movable property (as distinguished from real estate).
Classification
Nouns denoting possession and transfer of possession.
Examples
- The will specified that her personalty, including jewelry and furniture, would be divided equally among her children.
- The probate court was responsible for distributing the deceased's personalty according to the terms of the will.
- In many countries, inheritance tax is applied to both real estate and personalty.
- As part of the divorce settlement, the couple agreed to divide their personalty, including household goods and vehicles.
- The liquidator was tasked with selling the company's personalty, such as office equipment and vehicles, to pay off creditors.