Movables, also known as personal property or chattels, refer to tangible objects and assets that can be physically moved or transferred from one location to another. These items are distinct from immovable property (real estate), which includes land and permanent structures. Movables encompass a wide range of possessions, from small personal belongings to larger assets.
Examples of movables include furniture, electronics, vehicles, clothing, jewelry, artworks, machinery, and other physical possessions that individuals, businesses, or organizations may own. These items are generally characterized by their portability and the fact that they can be easily transported, sold, or exchanged.
Movables can have both significant financial and sentimental value. They may be bought and sold in various transactions, such as purchases, rentals, or leases, and can often function as collateral for loans or insurance coverage. Ownership of movables is typically established through legal documentation, such as purchase agreements, titles, or receipts. In cases of dispute or controversy, laws and regulations governing movables help define ownership rights, responsibility, and dispute resolution processes.
Overall, movables are assets that provide individuals and entities with comfort, convenience, and utility in their everyday lives and business operations, reflecting their importance in modern society's economy and lifestyle.
