Kovats Real Estate School Practice Test

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What is chattel in real estate terms?

  1. real property

  2. personal property which is tangible and movable

  3. real estate agent's commission

  4. a type of investment property

The correct answer is: personal property which is tangible and movable

Chattel in real estate terms refers specifically to personal property that is tangible and movable. This means that chattel includes items that are not permanently attached to or associated with the real estate. For example, furniture, vehicles, and farm equipment would all be considered chattel, as they can be moved from one location to another without altering the property itself. In contrast, real property pertains to land and anything permanently attached to it, such as buildings or fixtures. This distinction is essential because it influences sales and transactions within real estate, where understanding what constitutes personal property versus real property can affect negotiations and contracts. The options involving a real estate agent's commission and types of investment property do not pertain to the definition of chattel and revolve around different aspects of real estate—namely, professional fees and investment strategies. Thus, recognizing chattel as personal, movable property is crucial for clarity in real estate discussions and documentation.

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