7Meaning of “interest in property”

#### 7 Meaning of “interest in property” 7 Meaning of “interest in property” > > (1) In this Act, a reference to an interest of a person in property is a reference to— > > > > > (a) an interest the person has in real or personal property, or > > > > > (b) a chose in action enforceable at the suit of the person, or > > > > > (c) an interest of the person that is within a class of interests prescribed as interests in property for the purposes of this Act. > > > (2) Without limiting the generality of subsection (1), a reference in this Act to an interest of a person in property includes a reference to— > > > > > (a) the person’s money, and > > > > > (b) an interest that the person has in the goodwill of a business, and > > > > > (c) an interest that the person has in a licence required to be held in order to carry on a business. > > > (2A) A reference in this Act to an interest of a person in property includes a reference to an interest of a person in property situated outside New South Wales (including outside Australia). > > > (3) For the purposes of this Act, if— > > > > > (a) but for this subsection, a person would have an interest in property as provided by subsection (1), and > > > > > (b) the interest is subject to the effective control of another person, > > > > the interest is an interest of the person who has effective control and is not an interest of the person referred to in paragraph (a). > > > (4) In this section— > > > > interest, in relation to property, means— > > > > > (a) a legal or equitable estate or interest in the property, or > > > > > (b) a right, power or privilege in connection with the property, > > > > whether present or future and whether vested or contingent. > > **s 7:** Am 1997 No 68, Sch 1 \[14\].