• Personal property includes items that people own, such as furniture, appliances, or electronics. In short, these objects differ from immovable property in that they are movable.
  • Personal property can be intangible, as is the case with stocks and bonds, or tangible, such as clothing or works of art.
  • Like real estate such as a house, loans can be secured by personal property. A typical example is a car loan, which is secured by the car itself.
  • Personal property plays a role when people insure their home. Typically, homeowner insurance policies cover personal property between 50% and 70% of the value of the home.