Personal effects refer to belongings or possessions owned by an individual that are typically of a personal, sentimental, or practical nature. These items can include clothing, jewelry, electronics, documents, or other items of personal significance. Personal effects are distinct from real property or assets and are often considered movable property. In legal contexts, personal effects may be subject to inheritance laws, taxation, or disputes over ownership, particularly in the event of death or divorce. They hold both material and sentimental value to their owner and are often handled with care and consideration.
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This glossary post was last updated: 29th March 2024.
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