It means more like 'I sort through my belongings/stuff'. Of course this could mean that you're in the process of tidying up, but not necessary. You can also разбирать вещи in a meaning of unpacking them when you arrive from a trip.
2. The second meaning is direct - to dissassemble (self). You won't meet this meaning very often because things usually don't disassemble by themselves. It simply derives from the vord разбирать which means 'to disassemble' or 'to dismantle' or even 'to undo' sometimes.
(a) We still don't accept him (recognize him as our mate). We still need to sort him out.
(b) Thus it is decided to investigate who gave which orders.
(c) The journalists are ought to know better the subjects they write about.
(d) (At first) all his property will be arrested and then they'll think what to do next.