rights (such as a lien or other security interest) can be registered against personal or movable property. In common law it is possible to place a mortgage upon real property. Such a mortgage requires payment or the owner of the mortgage can seek foreclosure. Personal property can often be secured with a similar kind of device, variously called a chattel mortgage, a trust receipt, or a security interest. In the United States, Article 9 of the Uniform Commercial Code governs the creation and enforcement of security interests in most (but not all) types of personal property. There is no similar institution to the mortgage in the civil law, however a hypothec is a device to secure real rights against property. These real rights follow the property along with the ownership. In common law a lien also remains on the property and it is not extinguished by alienation of the property; liens may be real or equitable. Many jurisdictions levy a personal property tax, an annual tax on the privilege of owning or possessing personal property within the boundaries of the jurisdiction. Automobile and boat registration fees are a subset of this tax. Most household goods are exempt as long as they are kept or used within the household; the tax usually becomes a problem when the taxing authority discovers that expensive personal property like art is being regularly stored outside of the household. The distinction between tangible and intangible personal property is also significant in some of the jurisdictions which impose sales taxes. In Canada, for example, provincial and federal sales taxes were imposed primarily on sales of tangible personal property whereas sales of intangibles tended to be exempt. The move to value added taxes, under which almost all transactions are taxable, has diminished the significance of the distinction. Personal versus private property In political/economic theory, notably socialist, Marxist, and many anarchist philosophies, the distinction between private and personal property is an important one. Which items of property constitute personal versus private, is open to debate. In some economic systems, such as capitalism, private and personal property are considered to be of equal importance and significance without the need for making a distinction. Personal property, or possessions, includes "items intended for personal use" (e.g., one's toothbrush, clothes, and vehicles, and rarely money). It must be gained in a "fair" manner according to socialist doctrine. The owner has a distributive right