Personal effects
Term · Law · MLC-T-LAW-003730
Movable items of a personal nature, such as clothing, jewelry, toiletries, and other articles owned by an individual. In the context of wills and estates, the term designates property intimately associated with a person's life, distinct from real estate or intangible assets like stocks. Insurance policies for personal effects may specify coverage limits for certain categories, such as a $1,500 sub-limit for jewelry.
| Identifier | MLC-T-LAW-003730 |
|---|---|
| Field | Law |
Record as JSON
{
"id": "MLC-T-LAW-003730",
"term": "Personal effects",
"field": "Law",
"definition": "Movable items of a personal nature, such as clothing, jewelry, toiletries, and other articles owned by an individual. In the context of wills and estates, the term designates property intimately associated with a person's life, distinct from real estate or intangible assets like stocks. Insurance policies for personal effects may specify coverage limits for certain categories, such as a $1,500 sub-limit for jewelry.",
"url": "https://mlchart.com/terminology/law/personal-effects/"
}
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