Definition of "Personal property"

Donald Rushworth real estate agent

Written by

Donald Rushworthelite badge icon

Berkshire Hathaway HomeServices

Assets owned by an individual as part of his or her estate except for land and everything attached to the land. Personal property may be either tangible, having physical substance such as an auto and furniture, or intangible, lacking physical substance such as stocks, bonds, etc.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

The real estate market uses the absorption rate to assess at which rate are available homes sold. This evaluation method is used for specific markets for specific periods of time. To ...

Fibrous, fire-proofing material that was used in buildings and homes for insulation. ...

Unfulfilled action where something remains to be done in order to complete it. ...

Certification granted by the Realtors National Marketing Institute upon successful completion of an education program and the required residential sales experience. Candidates must already ...

Concept used in valuing real property that conditions may be altered requiring a revised estimate of market value. These conditions include a shift in the demand/supply relationship, ...

A horizontal beam connecting together two rafters supporting the roof. The collar beam is located at the point substantially higher than the wall plate connecting the rafters. The high ...

Act of actual eviction or removal of a lessee from a property. The eviction may be either voluntarily through due process of law or involuntarily by force. This generally occurs when a ...

An attic is an accessible room or space between the roof rafters and ceiling joists of a structure. The attic can be completely finished as a habitable place, complete with floors, ...

Fund set aside for periodic payments, aimed at reducing a financial obligation taken out to buy real estate, or to accumulate enough funds to buy property or plant expansion. The principal ...

Popular Real Estate Questions