Property Ownership
Colorado law defines 'personal property' as:
AProperty that is attached to the land
BAll property that is not real property — movable items not permanently affixed to land✓ Correct
CProperty owned by individuals (not corporations)
DItems that require a bill of sale for transfer
Explanation
Personal property (chattel or personalty) is all property that is not real property — movable items not permanently attached to land or improvements, such as furniture, vehicles, and equipment.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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