Pennsylvania Auctioneer Practice Exam

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Define personal property:

  1. Fixed, immovable assets

  2. Items attached to real estate

  3. Exclusively real estate properties

  4. Movable, tangible possessions

The correct answer is: Movable, tangible possessions

Personal property is defined as movable, tangible possessions that can be physically moved from one location to another. This distinguishes personal property from real property, which includes land and anything attached to the land, such as buildings. Therefore, the correct answer is D. Option A refers to real property, while options B and C do not accurately define personal property.

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