§ 1360.Definitions

Before the state can manage unclaimed property, it needs to know which words mean what. Section 1360 supplies three definitions for this chapter, and each one leans on a definition set earlier in the title rather than starting from scratch. “Personal property” and “real property” each mean property of that kind that already qualifies as unclaimed property under the rest of Title 10. The chapter doesn't carve out a separate category of property; it borrows the same pool the earlier chapters already established and labels the two halves of it.

“Securities” gets a longer definition because the category covers so much ground. It reaches stocks, bonds, notes, debentures, certificates of deposit, shares, and every other evidence of ownership or debt, along with any chose in action and the property interest that chose represents, so long as it all falls within the unclaimed-property definition. That breadth matters later in this chapter, since the Controller's power to sell, redeem, or otherwise dispose of securities in Section 1371 depends on this definition covering the full range of financial instruments the state might end up holding.