Legal Definitions - patrimonium

Patrimonium is a Roman law term for property that is capable of being inherited. It broadly refers to an individual's private property, often also known as patrimony.

Patrimonium refers to the entire collection of assets, rights, and obligations that an individual owns and that are capable of being inherited or passed on to others. Essentially, it encompasses all private property, whether tangible or intangible, that constitutes a person's estate.

• Example 1: The Family Estate

  Imagine a large country estate, including the ancestral home, surrounding farmlands, and a collection of antique furniture and artwork, that has been owned by the same family for several generations. The current owner intends to pass this entire estate down to their children.

  This entire collection of property—the land, buildings, and valuable possessions—represents the family's patrimonium. It is private property that is inherently capable of being inherited and has been preserved within the family line.

• Example 2: A Creator's Legacy

  Consider a renowned author who has written numerous best-selling novels. Upon their death, the copyrights to these books, along with any royalties generated from their sales, will transfer to their designated heirs.

  The copyrights and the future income streams derived from the author's literary works form part of their patrimonium. Even though these are intangible assets, they are private property that can be legally inherited and continue to provide value to the heirs.

• Example 3: A Personal Investment Portfolio

  An individual has diligently saved and invested throughout their career, accumulating a diverse portfolio of stocks, bonds, and real estate investment trusts (REITs) held in various brokerage accounts. They have also designated beneficiaries for these accounts.

  This entire financial portfolio, representing the individual's private wealth and investments, constitutes their patrimonium. These assets are owned by the individual and are explicitly structured to be inherited by their chosen beneficiaries upon their passing.