Which property is classified as 'personal property'?

The classification of 'personal property' refers specifically to items that are movable and not permanently fixed to a parcel of real estate. This includes items such as furniture, vehicles, equipment, and other tangible goods that can be transported from one location to another without causing damage to the property itself.

In contrast, land and buildings are considered real property, as they are immovable and are integral parts of the real estate. Mineral rights typically pertain to the ownership of minerals beneath the surface of the land but are also associated with the real property. Air rights involve the space above a piece of property and, like mineral rights, are part of the real estate classification. Thus, all of these other options are tied to real estate or rights associated with it, rather than being classified as personal property.

This distinction is crucial in fields such as real estate appraisal and taxation, where understanding the difference between personal and real property influences property valuation and ownership rights.