What is another term for personal property in real estate?

The correct term for personal property in real estate is "chattel." Chattel refers to movable items that are not permanently attached to or part of real estate. This includes items such as furniture, appliances, and other personal belongings that can be relocated without altering the property itself. In contrast, real property encompasses land and anything permanently affixed to it, such as buildings and improvements.

Understanding this distinction is essential for those involved in real estate transactions, as it impacts things like leasing agreements and the sale of property. For instance, when a property is sold, it’s important to clarify what is considered real property and what is chattel to avoid misunderstandings about what is included in the sale.

The other terms do not adequately define personal property. The bundle of rights refers to the various legal entitlements associated with ownership of real estate, while trade fixtures are items installed by a tenant for business purposes but remain the tenant's personal property. The bundle of legal rights is a variation of the bundle of rights concept, focusing on the legal aspects of property ownership.