Personal property includes all movable and tangible things that are not real property—such as money, goods, furniture, motor vehicles, animals, stocks, bonds, patents, copyrights, merchandise, and personal annuities.
In Texas, personal property is defined as property that is not real estate, which includes movable items like money, goods, furniture, vehicles, animals, and intangible assets such as stocks, bonds, patents, copyrights, and personal annuities. Texas law governs various aspects of personal property, including the acquisition, ownership, transfer, and inheritance of such property. For instance, the Texas Property Code outlines rules for personal property ownership and transactions, while the Texas Estates Code provides guidance on how personal property is to be handled after an owner's death. Additionally, personal property can be subject to taxation under Texas law, and there are specific statutes that address the treatment of personal property in the context of security interests, collateral, and secured transactions under the Texas Business and Commerce Code. It's important to note that the classification and treatment of personal property can have significant legal implications, particularly in areas such as estate planning, bankruptcy, and taxation.
