Which of the following types of property are considered personal property?
A.
Land
B.
Chattels
C.
Buildings
D.
Mineral rights
The Answer Is:
B
This question includes an explanation.
Explanation:
Chattels are considered personal property as opposed to real property. Real property refers to land and immovable structures attached to it, like buildings, whereas personal property includes movable items. Chattels specifically refer to tangible, movable items that are personal property. This classification is crucial for legal and taxation purposes, where different rules apply to personal property and real property.
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