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 | - |
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 | - |