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Simple English definitions for legal terms
goods and chattels
Read a random definition: Represent
A quick definition of goods and chattels:
Goods and chattels refer to things that you own that are not land or buildings. This can include things like furniture, cars, and clothes. However, what is considered goods and chattels can vary depending on where you live and what the law says. Sometimes, it can include things like leases or digital money, but other times it only includes physical things that you can touch and move around. It's important to know what goods and chattels means in your area because it can affect things like taxes and contracts.
A more thorough explanation:
Definition: Goods and chattels refer to property that is not real estate. This can include physical, moveable property or property rights that do not involve land and real estate. However, the extent of the term's coverage of property varies depending on the jurisdiction and can be highly contested.
In common law, goods and chattels broadly included any moveable property or property rights that did not involve land and real estate, such as leases. However, in modern statutes and case law, the term can be much less inclusive. It can sometimes include intangible property like leases or bitcoin, but often only includes physical, moveable property, which may not even include money.
It is important to look at the term as used in a given statute or jurisdiction because the distinction between the usage of the term can be important in a variety of contexts, including taxes and contracts.
Examples:
- A car is an example of goods and chattels because it is physical, moveable property.
- A lease can also be considered goods and chattels, depending on the jurisdiction, because it is a property right that does not involve land and real estate.
- However, in some jurisdictions, money may not be considered goods and chattels because it is not physical property.
These examples illustrate the varying extent of the term's coverage of property and how it can differ depending on the jurisdiction. While a car is generally considered goods and chattels, the inclusion of leases or even money can be highly contested and dependent on the specific laws and regulations of a given jurisdiction.