Divorce Dex.com: Personalty

Definition Personalty - a subset of personal property, moveable property; chattels, including clothing and furnishings.

Application in Divorce Certain types of leases are personalty.

Compare Real Property. See Personal Property.

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Settling the Division of Personal Property Upon Divorce
All personalty should be divided by the spouses. Personalty is "stuff," as George Carlin puts it. Even expensive goods lose most of their value the moment you walk out of the store with them. In a property settlement, a party should always remember how rapidly even an expensive new automobile depreciates.

Contributed on 7/31/2007 by: DivorceDex.com Staff
Category: Property Division (Applicable in All States)

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