What type of property do chattels personal include?

Get ready to ace the Metro Brokers Academy Test. Enhance your skills with flashcards and multiple-choice questions, complete with hints and explanations. Prepare thoroughly for your exam!

Chattels personal refer to movable personal property that is not fixed permanently to one location. This includes tangible items such as cars, boats, furniture, and money, which can be easily transported from one place to another. This classification emphasizes items that are owned but are not attached to or a part of real estate.

In contrast, real estate investments, land, and buildings fall under the category of real property, which is immovable. Leases and contracts pertain to rights or agreements regarding property use rather than the physical property itself. Thus, categorizing movable items like cars and furniture as chattels personal distinguishes them from the fixed nature of real estate and other contractual agreements.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy