tangible personal property
Personal property that can be felt or touched. Examples include furniture, cars, jewelry, and artwork. In contrast, cash and checking accounts are not tangible personal property. The law is unsettled as to whether computer data is tangible personal property. Compare: intangible property
Category: Wills, Trusts & Estates → Wills

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • Tangible Personal Property — An tax term describing personal property that can be physically relocated, such as furniture and office equipment. Tangible personal property is always depreciated over either a five or seven year period using straight line amortization, but is… …   Investment dictionary

  • tangible personal property memorandum — (TPPM) A legal document that is referred to in a will and used to guide the distribution of tangible personal property. Short Dictionary of (mostly American) Legal Terms and Abbreviations …   Law dictionary

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  • personal property — see property Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. personal property …   Law dictionary

  • 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 …   Black's law dictionary

  • personal property — Money, goods, and movable chattels. Ralston Steel Car Co. v Ralston, 112 Ohio St 306, 147 NE 513, 39 ALR 334. Goods, chattels, things in action, evidences of debt, and money. All objects and rights which are capable of ownership except freehold… …   Ballentine's law dictionary

  • real and personal property — Basic types of property in English common law, roughly corresponding to the division between immovables and movables in civil law. Real property consists of land, buildings, crops, and other resources, improvements, or fixtures still attached to… …   Universalium

  • property tax — a tax levied on real or personal property. [1800 10] * * * Levy imposed on real estate (land and buildings) and in some jurisdictions on personal property such as automobiles, jewelry, and furniture. Some countries also levy property taxes on… …   Universalium

  • personal chattel — Any article of tangible personal property. An account receivable is not a personal chattel. Plunkett Jarrell Grocery Co. v Terry, 222 Ark 784, 263 SW2d 229, 44 ALR2d 917. See personal effects; personal things …   Ballentine's law dictionary

  • property — prop·er·ty n pl ties [Anglo French propreté proprieté, from Latin proprietat proprietas, from proprius own, particular] 1: something (as an interest, money, or land) that is owned or possessed see also asset, estate, interest …   Law dictionary

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