personal property

noun

Definition of personal property

: property other than real property consisting of things temporary or movable : chattels

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Examples of personal property in a Sentence

any personal property that is left in the lockers overnight will be impounded

Recent Examples on the Web

Sharon Tate Estate Placed at $45,000 Actress Sharon Tate left an estate of $45,000 and an undisclosed sum in personal property, documents filed in Santa Monica Superior Court disclosed Monday. Los Angeles Times, "From the Archives: Manson Indicted With 5 Others in Tate Murders," 28 July 2019 Here are some of the key changes made under the laws: Evictions Allow landlords to dispose of tenants' personal property, with the exception of prescription drugs and medical equipment, immediately after an eviction. Mary Spicuzza, Milwaukee Journal Sentinel, "12 ways Wisconsin lawmakers dramatically rewrote rental laws to favor landlords over tenants," 14 June 2019 Finally, on May 15, he was found and charged with communicating threats, assault on a female, simple assault, injury to personal property and felony larceny. Jane Wester, charlotteobserver, "Honduras native arrested in Charlotte, charged with illegally reentering the US," 4 June 2019 Dunedin’s attorneys cited a state statute saying the lien the city placed on the house where the violation occurred applies to other personal property Allen owned. Kristine Phillips, USA Today, "A Florida woman was fined $100,000 for a dirty pool and overgrown grass. When do fines become excessive?," 19 July 2019 About 1,000 people have signed her petition to various state senators and representatives as well as Oregon’s U.S. Senator Ron Wyden, asking that the law be changed to make pets family rather than personal property. oregonlive.com, "A Portland family took their dog to DoveLewis; the family says it’s the hospital’s fault he died," 19 June 2019 Among the taxes listed are property taxes or assessments on public improvements, income or excise taxes, personal property taxes, and interest. al.com, "Toll bill signed by Ivey could save state millions on I-10 project, if it happens," 12 July 2019 Related Stories The bill will remove the ability for wealthy households to deduct business losses and defer taxes owed on the sale of personal property. Alexei Koseff, SFChronicle.com, "California lawmakers pass tax change to help working poor," 20 June 2019 Sliozis said the uptick in theft of both personal property and vehicles primarily is attributable to an organized effort the past two years to steal and burglarize unlocked cars. Steve Sadin, chicagotribune.com, "New report highlights Deerfield police’s approaches to fighting crime in 2018," 18 June 2019

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'personal property.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of personal property

1833, in the meaning defined above

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More Definitions for personal property

personal property

noun

Financial Definition of personal property

What It Is

Personal property is a class of property that can be moved from one location to another.

How It Works

Generally, real property is a class of property that cannot be moved.  It includes land and buildings, for example.  Personal property typically includes furniture, fixtures, tools, vehicles, and machinery and equipment.  All of these items can be moved.

Why It Matters

Many states impose a personal property tax on individual and business personal property. These personal property taxes are particularly important to consider, especially when comparing state corporate tax rates.  Some states offset their low corporate tax rates and even low real estate tax rates with higher personal property taxes.  As a result, it is important to consider the whole tax bill when evaluating state tax rates.

Source: Investing Answers

personal property

Legal Definition of personal property

see property