Legal Definitions - individual asset

An individual asset refers to any item of economic value that is owned *solely* by a single natural person. This means the asset is not owned jointly with another person, nor is it owned by a business, a trust, or any other legal entity. It is an exclusive possession or right belonging to one specific individual.

Here are some examples illustrating what an individual asset is:

• Example 1: Personal Residence
  Scenario: Ms. Eleanor Vance purchased a condominium several years ago, and the deed to the property is registered exclusively in her name. She is the sole owner, and no one else is listed on the title. Explanation: The condominium is an individual asset because it is a valuable property owned entirely and exclusively by Ms. Vance as a single natural person. No other individual or entity shares ownership of this specific asset.
• Example 2: Investment Portfolio
  Scenario: Mr. David Chen has a brokerage account containing various stocks and bonds. This account was opened and is maintained solely under his Social Security number and name, with no beneficiaries or joint owners designated. Explanation: The entire investment portfolio within this brokerage account constitutes an individual asset. All the financial instruments held within it are exclusively owned by Mr. Chen, providing him with sole control and future economic benefit.
• Example 3: Copyrighted Work
  Scenario: Dr. Anya Sharma, a university professor, wrote and published a textbook on quantum physics. She holds the copyright to the book, meaning she has the exclusive legal right to reproduce, distribute, and display her work. Explanation: The copyright to the textbook is an individual asset belonging to Dr. Sharma. As the sole creator and copyright holder, she exclusively controls the economic rights associated with her intellectual property.