A refrigerator, a freestanding bookshelf, and a lawn mower can all be picked up and moved. They are personal property. Unlike real property, personal property is not permanently attached to land.

In real estate transactions the distinction matters. Fixtures that have been permanently affixed usually transfer with the real estate unless excluded. Personal property transfers only if specifically listed in the contract. Disputes often arise over appliances, curtains, and above-ground pools.

Bills of sale are used to transfer personal property at closing. Lenders and appraisers focus on real property; personal property is generally excluded from the collateral and the valuation. Clear contract language prevents arguments about what stays and what goes.

• Movable assets not permanently attached to land
• Transfers separately from real estate
• Must be listed to be included in a sale
• Distinguished from fixtures