PERSONAL PROPERTY; PERSONALTY. These tennis are applied to all that class of prop erty which is to he distinguished from real prop erty or real estate, and which consists for the most part of property which is either movable or merely temporary in character. The only abso lute distinction, however, between real and per sonal property lies in the legal method of its disposition after the death of its owner. Real property is inheritable or descendible, and passes to the legal heirs of the owner according to the rules of the common law or statutes governing descent. • Personal property is not inheritable, but passes to the administrator or executor of the deceased person.
The term 'personal property' is generally used as synonymous with 'goods' or 'goods and chat tels.' The term, however, has a broader sig nificance than either of those terms, and includes both chattels and chores in action. Property that is personal in its nature may become real by becoming affixed to real property, and in the same way real property may be converted into personal property by severance from the realty.
Title to personal property may be acquired in three ways: (1) By original acquisition; (2) by transfer by operation of law; (3) by transfer by act of the parties.
(1) Property acquired by original acquisition may be acquired by either: (a) occupancy when one appropriates to his own use a thing which was not then subject to ownership, as in the finding and appropriation of lost property or the capture of wild animals; or (b) accession, which is the right which a person has to all the property which his own property produces, as the young of animals, and the right to all property which is annexed naturally or artificially to his own property; or (c) by confusion, which is the inextricable commingling of other property with one's own property; or (d) by intellectual labor, which is the source of the property right of au thors and inventors in their writings and inven tions.
(2) The transfer of the title to personal prop erty by operation of law may be by forfeiture; by sale under execution; by operation of bank ruptcy or insolvency laws; by exercise of the right of eminent domain; by marriage; by death of the owner; or by escheat.
(3) Transfer of title of personal property may be accomplished by act of the parties. At com mon law all that is necessary to transfer an interest in personal property from one to an other is intent or mutual meeting of the minds of the parties without writing or other formal ity. (See CONTRACT; SALES; GIFT.) Modern statutes have made formalities requisite under some circumstances in order to protect the rights of the transferee from the claims of third per sons.
For further information as to the various kinds of personal property, the methods of ac quisition, and transfer of title thereto, the rem edies for injury to personal property, etc., con sult such subjects as CHATTELS; CHOSE IN AC TION; DESCENT; ADMINISTRATION; FIXTURES; EMBLEMENTS; ESTRAY; FERN .NATUR.E; PAT ENT; LITERARY PROPERTY; FRAUDS. STATUTE OF; MORTGAGE: TORT; CRIME. etc.
Consult: Schouler. The Law of Personal Prop erty (3d ed., Boston, 1896) ; Brantley. Principles of tire Lair of Persmial Property (San Francisco. 1S90) ; Goodeve, Lair of Personal Prop erty (3d ed., London. 1899) : Williams, Prin ciples of the Law of Personal Property for tire Use of Rtudents in Conveyancing (15th ed., Lon don, 1900).