What category of property does 'personal property' include?

Personal property encompasses any movable items that are not classified as real property. This distinction is fundamental in real estate, as real property refers to land and anything permanently affixed to it, such as buildings and structures. In contrast, personal property includes items that can be easily moved, such as furniture, vehicles, and equipment. Understanding this classification is crucial since legal principles governing the ownership and transfer of personal property differ from those applicable to real property.

The other options do not accurately describe personal property. Assets tied directly to real estate would be classified as real property, not personal property. The focus on items owned by a corporation misrepresents personal property, as ownership is not limited to corporate entities; individuals also possess personal property. Lastly, fixtures, which are items attached to land or buildings, are typically considered part of real property rather than personal property, highlighting the key difference between the two categories.