personal_property
Table of Contents
Personal Property
Personal property is movable property that is not permanently attached to land or buildings.
Key Characteristics
- Movable and not fixed to real estate
- Also called chattel
- Ownership transfers by bill of sale, not a deed
- Does not run with the land
Examples
- Furniture
- Appliances (freestanding)
- Vehicles
- Clothing
- Tools
- Curtains and rugs
Personal Property vs Real Property
- Personal Property
- Movable
- Not permanently attached
- Transferred by bill of sale
-
- Land and permanent improvements
- Transferred by deed
Fixtures (Exception)
- Items that were once personal property but became real property
- Determined using the MARIA test
- Method of attachment
- Adaptability
- Relationship of the parties
- Intention
- Agreement
Exam Tip
- If it can be removed without damage, it’s likely personal property
- Always check the purchase agreement for included items
personal_property.txt · Last modified: by reidjs
