What are chattels?
- Definition of Chattels
Chattels are any personal property or possessions that can be removed from a property without damaging or decreasing the value or function of the real property.
Why is this term important?
Chattels are not factored into the value of a property. A chattel is considered to be the independent property of the owner and not a part of the real property being bought or sold.
Examples of term
Washing machines and dryers are considered chattel, in legal speak, as homeowners can choose to move them out of one home and into another.