What type of property is a boat classified as?

A boat is classified as personal property because it is a movable asset that is not fixed to one location, unlike real estate which consists of land and any permanent structures on it. Personal property encompasses a wide range of movable items, including cars, furniture, and recreational equipment.

Classification as personal property means that boats are typically not subject to the same regulations and tax considerations as real estate properties. This distinction is important for various legal and financial aspects, such as sales tax, insurance, and ownership transfer processes. While commercial properties relate to business activities and residential properties pertain to habitation, neither category applies to a boat, reinforcing its identity as personal property.