Legal Definition and Related Resources of Assets

Meaning of Assets

Used and well understood as including all kinds of property . Property of any kind, real or personal , tangible or intangible , legal or equitable, which can be made available for the payment of debts. Harris v U.S., 431F. Supp. 1173.

Assets Alternative Definition

(Fr. assez, enough). All the Stock in trade, cash, and all available property belonging to a merchant or company. Equivalent to property. 2 Sandf. (N. Y.) 202. The property in the hands of an heir, executor, administrator, or trustee, which is legally or equitably chargeable with the obligations which such heir, executor, administrator, or other trustee is, as such, required to discharge. Equitable Assets. Such as can be reached only by the aid of a court of equity, and which are to be divided, pari passu, among all the creditors. 2 Fonbl. Eq. 401 et seq.; Willis, Trustees, 118. Legal Assets. Such as constitute the fund for the payment of debts according to their legal priority. Assets per Descent. That portion of the ancestor’s estate which descends to the heir, and which is suflScient to charge him, as far as it goes, with the specialty debts of his ancestors. 2 Williams, Ex’rs, 1011. Personal Assets. Goods and personal chattels to which the executor or administrator is entitled. Real Assets. Such as descend to the heir, as, an estate in fee simple.

Financial Definition of Assets

A firm’s productive resources.

Legal Definition of Assets

Everything a corporation owns or that is due to it: cash, investments, money due it, materials and inventories, which are called current assets; buildings and machinery, which are known as fixed assets; and patents and goodwill, called intangible assets. (See: Liabilities)

Synonyms of Assets


  • available means
  • belongings
  • bona
  • capital
  • chattels
  • effects
  • estate
  • funds
  • goods
  • holdings
  • inventories
  • money
  • pecuniary resources
  • personal effects
  • personal resources
  • possessions
  • principal
  • property
  • reserves
  • resources
  • riches
  • valuables
  • wealth
  • wherewithal
  • Associated Concepts: assets of a trust corpus
  • assets of an estate
  • capital assets
  • concealment of assets
  • contingent assets
  • corporation’s assets
  • depletion of assets
  • disposal of assets
  • equitable assets
  • fixed assets
  • foreign assets
  • fraudulent transfer of assets
  • liquid assets
  • partnership assets
  • personal assets
  • real assets
  • sale of assets
  • testamentary assets

Related Entries of Assets in the Encyclopedia of Law Project

Browse or run a search for Assets in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Assets in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Assets in Historical Law in the Encyclopedia of Law.

Legal Abbreviations and Acronyms

Search for legal acronyms and/or abbreviations containing Assets in the Legal Abbreviations and Acronyms Dictionary.

Related Legal Terms

You might be also interested in these legal terms:

Mentioned in these terms

Abatement, Adjustment, Administer, Administration Of Estates, Annuity, Capital Assets, Capital Stock, Cash Asset, Cash Dividend, Contributory, Debenture, Devastavit, Equitable Assets, Equitable Execution, Execution, Executor, Fixed Assets, Floating Charge, Fraudulent Preference, General Legacy, Insolvency, Insolvent, Judgment Proof, Legacy, Letters Of Administration, Leverage, , Liability, Limited Partnership, Liquid Assets, Liquidate, Liquidation, Living Trust, Marshaling, Means, Patrimony, Reserve Fund, Residuary Legacy, Share, Surplus, Trust Fund Doctrine.

Translate Assets from English to Spanish

Translation of Assets, with examples. More about free online translation into Spanish of Bienes and other legal terms is available here.


You might be interested in these references tools:

Resource Description
Assets in the Dictionary Assets in our legal dictionaries
Browse the Legal Thesaurus Find synonyms and related words of Assets
Legal Maxims Maxims are established principles that jurists use as interpretive tools, invoked more frequently in international law
Legal Answers (Q&A) A community-driven knowledge creation process, of enduring value to a broad audience
Related topics Assets in the World Encyclopedia of Law


This definition of Assets is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.

Vocabularies (Semantic Web Information)


Resource Description
Topic Map A group of names, occurrences and associations
Topic Tree A topic display format, showing the hierarchy
Sitemap Index Sitemap Index, including Taxonomies The URI of Assets (more about URIs)

Assets in Law Enforcement

Main Entry: Law Enforcement in the Legal Dictionary. This section provides, in the context of Law Enforcement, a partial definition of assets.


This term is a noun.

Etimology of Assets

(You may find assets at the world legal encyclopedia and the etimology of more terms).

1530s, “sufficient estate,” from Anglo-French assetz, asetz (singular), from Old French assez “sufficiency, satisfaction; compensation” (11c.), noun use of adverb meaning “enough, sufficiently; very much, a great deal,” from Vulgar Latin *ad satis “to sufficiency,” from Latin ad “to” (see ad-) + satis “enough,” from PIE root *s_- “to satisfy” (see sad). At first a legal word meaning “sufficient estate” (to satisfy debts and legacies), it passed into a general sense of “property,” especially “any property that theoretically can be converted to ready money” by 1580s. Figurative use from 1670s. Asset is a 19c. artificial singular. Corporate asset stripping is attested from 1972.


See Also

  • Law Enforcement Officer
  • Police Officer
  • Law Enforcement Agency

Further Reading

English Legal System: Assets

In the context of the English law, A Dictionary of Law provides the following legal concept of Assets :

Physical property and/or rights that have a monetary value and are capable of being those of a *juristic person or a natural person (i.e. a human being). They can comprise real assets (real property) and personal assets (personal property). In respect of a juristic person, such as a corporation, assets include fixed or capital assets (those identified as being held and used on a continuing basis in the business activity, e.g. machinery) and current or circulating assets (those not intended to be used on a continuing basis in the business activity but realized in the course of trading).

In respect of a natural person who is deceased, assets comprise all real and personal property that forms part of the deceased’s estate and is available for the payment of the deceased’s debts and liabilities.

See also family assets; wasting assets.

Depreciation of Assets in the Economic Activity

An introductory concept of Depreciation of Assets may be: the decrease in the value of an asset; in particular, the amount that capital goods decrease in value as they are used and become old

Tax-Favored Assets in the Economic Activity

An introductory concept of Tax-Favored Assets may be: the return on these assets receives favorable tax treatment, such as tax-exempt municipal bonds

Concept of Assets in the context of Real Property

A short definition of Assets: Everything owned by a person or corporation which can be used for the payment of debts.

Concept of Assets in the context of Real Property

A short definition of Assets: Everything owned by a person or corporation which can be used for the payment of debts.


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