Kovats Real Estate School Practice Test

Generally, things or objects that are temporary or easily movable are referred to as?

1. real estate

2. fixtures

3. personalty

4. land

The correct answer is: personalty

The term "personalty" refers to movable items that are not permanently attached to or a part of real estate. These items are typically characterized by their temporary nature and the fact that they can be relocated easily. Personalty includes furniture, vehicles, and other possessions that can be moved without altering the structure of a property. In contrast, real estate encompasses immovable properties like land and buildings. Fixtures are items that were once considered personal property but have been permanently affixed to a property, making them part of the real estate. Land is also immovable and refers specifically to the earth's surface and whatever is permanently attached to it. Thus, recognizing personalty as items that are temporary or easily movable distinguishes it from the other terms related to fixed or permanent properties.