Personal property includes all movable and tangible things that are not real property—such as money, goods, furniture, motor vehicles, animals, stocks, bonds, patents, copyrights, merchandise, and personal annuities.
In Pennsylvania, personal property is generally defined as any property that is not real estate, which means it includes movable and tangible items such as money, goods, furniture, vehicles, animals, and intellectual property like stocks, bonds, patents, and copyrights. Personal property is subject to different regulations and laws than real property. For example, the transfer of personal property does not typically require the formalities of real estate transactions, such as recording deeds. However, certain types of personal property, like motor vehicles, must be titled and registered with the state. Additionally, personal property can be subject to personal property tax, and its transfer upon the owner's death is governed by estate laws, which may include the probate process unless otherwise arranged through wills, trusts, or beneficiary designations.