Personal Property
/ˈpɜːrsənəl ˈprɒpərti/
Definitions
- (n.) Movable property owned by a person distinct from real estate, such as goods, chattels, and intangible assets.
The car is considered personal property, not part of the real estate.
Related terms
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Commentary
Personal property contrasts with real property; care should be taken to differentiate movable assets from land and buildings in legal documents.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.