Personal Property

A Personal Property is a movable property or a movable man-made object.

• AKA: Movable Property, Chattels, Personalty.
• Context:
  • It can range from being Tangible Personal Property to being Intangible Personal Property.
• Example(s):
  • Vehicle.
  • Furniture.
  • Livestock.
  • Boat.
• Counter-Example(s):
  • Real Property.
  • Private Property.
  • Building.
  • Land.
• See: Property Tax, Asset, Property.

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References

2016

• (Wikipedia, 2016) ⇒ http://en.wikipedia.org/wiki/Personal_property
  • Personal property is generally considered property that is movable, as opposed to real property or real estate. In common law systems, personal property may also be called chattels or personalty. In civil law systems, personal property is often called movable property or movables – any property that can be moved from one location to another. This term is in distinction with immovable property or immovables, such as land and buildings. Movable property on land, for example, larger livestock, was not automatically sold with the land. In contrast, wildlife and smaller livestock like chickens were often sold as part of the land. In fact the word cattle is the Old Norman variant of Old French chatel (derived from Latin capitalis, “of the head”), which was once synonymous with general movable personal property.

• (Investopedia, 2016) ⇒ http://www.investopedia.com/terms/p/personalproperty.asp
  • Personal property, in its most general definition, can include any asset other than real estate. The distinguishing factor between personal property and real estate is that personal property is movable; that is, the asset is not fixed permanently to one location as with real property, such as land or buildings. Examples of personal property include vehicles, furniture, boats and collectibles.

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