What type of asset is known as personal property or chattel?

Personal property, also known as chattel, refers to assets that are not fixed to the land and can be moved from one location to another. This category includes items such as furniture, vehicles, and other movable goods. Unlike real estate, which consists of land and anything permanently attached to it, personal property retains a level of portability and often includes items that are tangible and can be physically transferred.

In contrast, real estate refers specifically to land and structures built upon it, while fixed assets might imply items that are long-term investments but are not permanent fixtures of land. Token assets is a term that typically refers to digital or cryptocurrency tokens rather than traditional categories of property. Therefore, recognizing personal property as chattel highlights its distinctive characteristic of being movable and not attached to real estate.