What is a primary characteristic of personal property in real estate?

A primary characteristic of personal property in real estate is that it typically leaves with sellers or tenants when they vacate. Personal property refers to items that are movable and not permanently attached to or part of the real estate. Examples include furniture, appliances, and vehicles.

In the context of a real estate transaction, personal property differs significantly from real property, which consists of land and anything permanently attached to it, such as buildings and fixtures. When a sale occurs, personal property is generally not included in the transaction unless specifically stated in the contract. Thus, the expectation is that personal property belongs to the seller or tenant rather than the property itself, which is a clear indicator of its movable nature.

This understanding is essential for both buyers and sellers in a real estate transaction, as it helps delineate what is included with the property and what items the seller may choose to take with them upon vacating.