What do chattels real refer to?

Chattels real specifically refer to interests in real property that are considered personal property, particularly in the context of leases, mortgages, and contracts associated with real estate. This concept highlights the legal distinction that while the underlying property (land and buildings) is classified as real property, the rights related to the possession and use of that property—like a leasehold interest—are considered chattels real.

By understanding that chattels real encompass these kinds of contractual agreements and interests, it is clear why this option defines the term accurately. The other options focus on different categories of property, such as financial instruments or tangible personal property, which fall outside the definition of chattels real. Thus, recognizing that chattels real are closely associated with the legal rights tied to real estate helps in grasping the broader framework of property law.