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New Member
posted Jun 4, 2019 6:14:17 PM

What is the definition of personal property? Is my residence considered personal property?

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1 Best answer
Level 15
Jun 4, 2019 6:14:18 PM

Personal property is generally something that can be picked up and moved.

Real Estate (residence) is not personal property.  

Personal property is movable property. It's anything that can be subject to ownership, except land. Real property is immovable property - it's land and anything attached to the land. Normally, a piece of property can be easily classified as either personal property or real property.

1 Replies
Level 15
Jun 4, 2019 6:14:18 PM

Personal property is generally something that can be picked up and moved.

Real Estate (residence) is not personal property.  

Personal property is movable property. It's anything that can be subject to ownership, except land. Real property is immovable property - it's land and anything attached to the land. Normally, a piece of property can be easily classified as either personal property or real property.