Definition of PROPERTY:
(noun) / anything that may be the subject of ownership and is real or personal property, or is a chose in action (New York Estates, Powers, and Trusts Law § 1-2.15; SCPA § 103 )
Plain English translation: Property is anything that can be owned. Real property is land. A house, building, or other structure is improved real property. A condominium apartment owner owns a fraction of the land on which the building sits. Personal property is essentially all other property. A “chose in action” is the right to recover personal property that is wrongfully held by another.
Do You Need Legal Help Regarding Probate Or Estate Litigation In The New York Metro Area?
If a loved one died without a will and you need legal assistance regarding the probate process, or you find yourself involved in estate litigation you should be speak with an experienced probate attorney as soon as possible. Contact us online or call our New York City office directly at 212.227.2424 to schedule your free consultation. We proudly serve clients throughout New York and northern New Jersey including Brooklyn, Manhattan, Queens, Staten Island, The Bronx, Nassau County and Westchester County.