TSEM6016 - Legal background to trusts & estates: the law in England & Wales - choses in possession & choses in action

There are two groups of chattels personal (TSEM6015) - choses-in possession and choses in action.

Choses in possession

Choses in possession are tangible property, transferred by assignment, or by manual delivery.

They include

Types of tangible property Types of tangible property
  • clothes
  • stock-in-trade
  • furniture
  • plant and machinery
  • personal effects
  • live and dead stock
  • cars

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Choses in action

Choses in action are intangible property - rights of action to obtain money. They are transferred by documents.

They include

Types of intangible property Types of intangible property
  • loan debts
  • insurance policies
  • bank balances
  • copyright
  • negotiable instruments
  • patents
  • holdings in companies
  • interests in other estates
  • partnership interests
  • options
  • goodwill

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