What Does “Real” Verse “Personal Property” Mean In Divorce Cases?

10299798_mReal property includes, but is not limited to, land, houses, buildings,long term leases…

Personal property includes, but is not limited to, automobiles, clothing, computers, jewelry, furniture, and cash…

  • Personal property can also be represented by documents, such as stock certificates, bonds, and certificates of deposit.
  • Intangible personal property represented by contracts or agreements, such as pensions, stock options, royalties and insurance policies.
  • Even more intangible assets, such as “good will” of a business or professional practice, a license to practice a trade or profession, or even a degree from an educational institution. State law varies greatly regarding this type of property.
  • Money that one receives as a result of a personal injury claim is normally considered the separate property of the injured spouse unless otherwise agreed.

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