Personal property refers to movable items that are owned by an individual or entity, as opposed to real property, which includes land and buildings. Examples of personal property include furniture, vehicles, electronics, and clothing. This type of property can be bought, sold, or transferred, and it is often categorized into two types: tangible (physical items) and intangible (rights or interests, like stocks). Personal property is important in legal contexts, as it can be subject to ownership rights, taxes, and insurance. When someone sells or gifts personal property, they typically need to provide documentation to prove ownership. Understanding personal property helps individuals manage their assets effectively.