personal assets
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personal assets
The total assets (money, real estate, securities, etc.) that belong to a private individual and are not part of a company.
Als Einzelunternehmer haftet er auch mit seinem gesamten Privatvermögen.
As a sole proprietor, he is also liable with all of his personal assets.
The word is made up of the adjective 'privat' (private) and the noun 'das Vermögen' (assets/wealth). So it literally refers to the assets that belong to a person privately and are separate from business assets.
Er hat sein gesamtes Privatvermögen in die Gründung seiner Firma investiert.
He invested all of his personal assets in founding his company.
'Privatvermögen' (personal assets) is an important term in business and legal contexts. It is used especially often in connection with the 'Haftung' (liability) of entrepreneurs.
Bei einer GmbH ist die Haftung in der Regel nicht auf das Privatvermögen der Gesellschafter ausgedehnt.
In the case of a GmbH, liability generally does not extend to the shareholders' personal assets.
Typical verbs used with 'Privatvermögen' (personal assets) are 'haften mit' (to be liable with), 'einsetzen' (to use/invest), 'schützen' (to protect), or 'antasten' (to touch/dip into). It often appears together with a possessive pronoun.
Im Falle einer Insolvenz muss sie mit ihrem Privatvermögen haften.
In the event of insolvency, she must be liable with her personal assets.
private property
Privatbesitz refers to property owned by a private individual or a private company. Privatvermögen, by contrast, means the total personal assets of an individual, such as money, real estate, and securities, that are not part of the company. For a single privately owned object, Privatbesitz is therefore usually the better term.
Das Gemälde gehört zusammen mit ihrem Geld und ihren Immobilien zum Privatvermögen der Unternehmerin.
Together with her money and real estate, the painting is part of the businesswoman’s personal assets.
Das Gemälde befindet sich im Privatbesitz der Unternehmerin.
The painting is privately owned by the businesswoman.
