Which term refers to all physical items that are not classified as real property?

The term that refers to all physical items that are not classified as real property is personal property. Personal property encompasses movable items that can be owned and transferred, such as vehicles, furniture, and jewelry. Unlike real property, which refers to land and anything permanently attached to it, personal property includes all tangible and intangible items that can be possessed.

This classification is significant in various contexts, including legal matters and estate planning, where distinguishing between personal and real property affects ownership rights, taxation, and inheritance procedures. Personal property is generally easier to transfer than real property, as it does not require the same formalities like a deed.

Understanding this distinction is crucial in fields like funeral service education, as managing estates often involves dealing with both types of property.