In the context of real estate, personal property represents movable items not permanently affixed to the land or structure. These items, unlike fixtures, retain their character as personal possessions even when located on the property. Examples include furniture, appliances that are not built-in, artwork, and detachable decorative items.
Understanding the distinction between real and personal property is essential in property transactions. Clearly defining which items convey with the real estate prevents disputes and ensures a smooth transfer of ownership. This delineation is particularly relevant when drafting purchase agreements, as it clarifies expectations for both the buyer and the seller.
