Dictionary

  • Personal Property

    Personal property refers to all forms of legal property other than interests in land (real estate). It is one of two main classes into which English law has historically divided property (the other being real property), arising out of the fact that the only action for the wrongful taking of property other than land was a personal claim for damages, while land wrongfully taken could be recovered in a real action.

    In 2012, the Personal Property Securities Act 2009 (Cth) came into effect, governing security interests in personal property.

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