What is a chattel property?

In the legal and financial world, chattel refers to movable personal property. Chattel's value can drop rapidly due to depreciation, as is often seen with new cars, and typically does not increase with improvements or renovations. For these reasons, chattel property is treated differently from real estate for tax and accounting purposes.

What does chattel mean?

Spelling Bee Quiz Can you outdo past winners of the National Spelli... The meaning of CHATTEL is an item of tangible movable or immovable property except real estate and things (such as buildings) connected with real property —sometimes used as a mass noun. How to use chattel in a sentence.

What is the difference between chattel and real property?

As mentioned, the primary difference between chattel and real property is that chattel is movable while real property is fixed permanently to one specific location. In general, chattel refers to tangible property, or property that has a physical presence and can be seen or touched.