What is the definition of personalty in property appraisal?

Personalty, in the context of property appraisal, refers specifically to anything that is movable and not fixed to one location. This includes personal belongings and assets like furniture, vehicles, electronics, and other tangible items that can be easily relocated. It is distinguished from real property, which comprises land and any structures attached to it, thus emphasizing the mobility characteristic of personalty.

Real estate holdings are encompassed under real property, which does not fit the definition of personalty as they are immovable. Immovable property also falls under real property, reinforcing the distinction between the two types. Property held for investment can include both real and personal properties, but it does not specifically define personalty either. Therefore, the definition identifying personalty as anything movable is the most accurate and applicable in the context of property appraisal.