What is classified as personal property?

Personal property is defined as assets that are movable or intangible and are not classified as real property, which refers to land and anything permanently attached to it. This can include items like furniture, vehicles, stocks, bonds, and other assets that are not fixed to a specific location. The distinction is important because personal property can be easily transferred or sold, whereas real property typically involves more complex legal considerations for transfer and ownership.

The other options describe types of property that do not fall under the classification of personal property. Fixed and immovable assets, such as land or buildings, are considered real property. Real estate held for investment purposes is also real property, as it does not change its fixed nature. Lastly, business assets owned by a corporate entity can include both real property and personal property, but not all business assets are considered personal property; only those that are movable or intangible would fit this definition. Thus, the classification of personal property is accurately represented by the definition in the correct answer.