Definition

Noun 1. Movable property (as distinguished from real estate): Items of value that are not permanently attached to land or a building. This includes tangible objects that can be moved from one location to another.

Usage

"Personal property" is a legal and formal term used to categorize assets. It is often contrasted with "real property" (real estate). The term is used in contexts such as law, insurance, finance, and estate planning to list and evaluate possessions.

Examples

• The insurance policy covers the loss of personal property like furniture, electronics, and jewelry from the apartment.
• When moving, it is important to create an inventory of your personal property.
• The will specified how her personal property, including her art collection and car, should be distributed.

Advanced Usage

• Tangible vs. Intangible Personal Property: While traditionally referring to physical objects (tangible), the term can extend to certain intangible rights of value, such as stocks, bonds, and intellectual property, though these are often specified separately.
  • His estate included both tangible personal property like antiques and intangible assets like copyrights.

Variants and Related Words

• Personalty (noun): A legal synonym for personal property.
• Chattel (noun): A formal or legal term, often used in historical contexts, meaning an item of personal property.
• Movables (noun): Property that can be moved; another synonym for personal property.

Synonyms

• Belongings
• Possessions
• Effects
• Goods and chattels

Antonyms

• Real property
• Real estate
• Immovable property

Related Phrases

• Personal property tax: A tax levied on movable assets.
  • Some states require you to pay a personal property tax on your vehicle.
• Conversion of personal property: A legal term for the wrongful taking or using of someone else's movable goods.

Noun

1. movable property (as distinguished from real estate)