Chattel-Personal Property-Business Property-Equipment

Chattel-Personal Property-Business Property-Equipment. Many times these words are seen when describing the contents of an auction. These titles give bidders a glimpse into what they will find available in the auction.

Links to Chattel, Personal Property & Equipment Sales

What is Chattel

Simply put, chattel is any tangible item which can move from one location to another. In estate auctions or liquidations, real estate is not chattel. Neither are any fixtures attached to the real estate. However, the tangible, moveable items in homes and/or storage buildings are chattel. Some examples of chattel include tools, furniture, and vehicles. Items which the owner could pack and take with them. Keep in mind, however, built-ins are not chattel. Included would be built-in appliances such as refrigerators, stoves, microwaves, washers and dryers; as well as built-in furniture.

What is Personal Property

A very popular question is whether personal property is real property. The answer is no. Personal property is any personal belongings which are both tangible and moveable. Personal property does not stay with the real estate. In the instance of acreage for sale, personal property might be vehicles on the property. In the instance of a house for sale, personal property is any item not attached to the home. Since built-in appliances or furniture are attached to the real estate they are not personal property.

Business Property

Business personal property is much the same. Anything owned by the business is their personal property. Office supplies including desks not built-in. For example, if a reception area has a desk built-in to the lobby area, then that desk is not personal property. However, the computers, monitors, and all moveable supplies, fixtures, furniture and machinery are personal property.