Kovats Real Estate School Practice Test

What type of items would typically be classified as personalty?

1. land and buildings

2. unmovable structures

3. furniture and artwork

4. permanent fixtures

The correct answer is: furniture and artwork

Personalty refers to items that are not permanently attached to the land or the buildings on a property. This typically includes movable assets that can be easily transported. Furniture, artwork, and other similar items are perfect examples of personalty because they can be removed from the property without causing any damage or loss to the structure itself. In contrast, items classified as land and buildings, unmovable structures, and permanent fixtures all pertain to real estate, which consists of fixed items that are integrated into the property. These items are typically considered part of the real property and would not fall under the definition of personalty. Understanding the distinction between personalty and real property is crucial in real estate as it affects ownership rights, taxes, and the sale of property.