What Is Personal Property?
Personal property is everything a person can own that is not real estate. While real property is land and whatever is permanently attached to it, personal property is movable — it can be carried, transferred, and relocated. Lawyers sometimes call it "personalty" or "chattel."
Tangible and Intangible Personal Property
- Tangible personal property — physical items you can touch: vehicles, furniture, equipment, jewelry, inventory
- Intangible personal property — non-physical rights with value: bank accounts, stocks, bonds, patents, and other intellectual property
Why the Distinction Matters in Florida
Whether property is real or personal affects how it is transferred, taxed, and inherited. Real estate is conveyed by deed and recorded; personal property usually transfers by delivery or title (as with a vehicle). In a Florida estate, tangible personal items are frequently distributed through a separate written list referenced in the will. An item can also change character — a fixture is personal property that has become part of the real estate by being permanently attached.
Related Terms
- Tangible Property — Physical personal property
- Fixtures — Personal property that becomes part of real estate
- Estate — Where personal property is distributed
Barnes Walker
Barnes Walker's attorneys handle Florida real estate, business, and estate matters involving both real and personal property. Request a legal inquiry for assistance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC