Personal Use Property
There are many examples of personal use property, including vehicles, home furniture, a personal library, clothing, and so forth.
The definition is important in some tax jurisdictions in terms of whether or not a loss on the disposition of the asset is deductible. For example, often real-estate is treated differently in terms of taxation despite the fact that you use your home for personal use.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
use — 1 / yüs/ n 1 a: an arrangement in which property is granted to another with the trust and confidence that the grantor or another is entitled to the beneficial enjoyment of it see also trust; statute of uses in the important laws section ◇ Uses… … Law dictionary
Property law — is the area of law that governs the various forms of ownership in real property (land as distinct from personal or movable possessions) and in personal property, within the common law legal system. In the civil law system, there is a division… … Wikipedia
property damage — Injury to real or personal property through another s negligence, willful destruction, or by an act of nature. In lawsuits for damages caused by negligence or a willful act, property damage is distinguished from personal injury. Property damage… … Law dictionary
property law — Introduction principles, policies, and rules by which disputes over property are to be resolved and by which property transactions may be structured. What distinguishes property law from other kinds of law is that property law deals with… … Universalium
personal — per|son|al W1S1 [ˈpə:sənəl US ˈpə:r ] adj 1.) [only before noun] belonging or relating to one particular person, rather than to other people or to people in general ▪ My personal view is that we shouldn t offer him the job. ▪ Style and colour are … Dictionary of contemporary English
Property — is any physical or virtual entity that is owned by an individual. An owner of property has the right to consume, sell, mortgage, transfer and exchange his or her property.cite web|url=http://www.businessdictionary.com/definition/property.html|titl… … Wikipedia
property — prop·er·ty n pl ties [Anglo French propreté proprieté, from Latin proprietat proprietas, from proprius own, particular] 1: something (as an interest, money, or land) that is owned or possessed see also asset, estate, interest … Law dictionary
use tax — n: a tax imposed on the use of personal property and esp. property purchased in another state; specif: a one time tax imposed on the exercise or enjoyment of any right or power over tangible personal property that is incident to the ownership,… … Law dictionary
property — prop‧er‧ty [ˈprɒpəti ǁ ˈprɑːpər ] noun properties PLURALFORM 1. [uncountable] LAW all the things that someone owns: • Some of the stolen property was found in Mason s house. • The President supports a tax cut on profits from sales of property… … Financial and business terms
Property — • The person who enjoys the full right to dispose of it insofar as is not forbidden by law Catholic Encyclopedia. Kevin Knight. 2006. Property Property … Catholic encyclopedia