Which of the following describes 'personal property' accurately?

Personal property is accurately described as property that is movable. Unlike real property, which includes land and anything permanently attached to it, personal property encompasses items that can be transferred from one location to another without altering the real estate. This includes items such as furniture, vehicles, and equipment. Understanding this distinction is crucial in real property appraisal, as it assists appraisers in identifying and valuing different types of property correctly.

Other options describe elements that are part of real property or specific categorizations of property. Real estate and buildings refer specifically to immovable property, which does not qualify as personal property. Similarly, land and minerals pertain to items that are inherently tied to the earth and thus are classified under real property. Lastly, property that is leased concerns the rights to use a property rather than describing the nature of the property itself, which can include both personal and real property types depending on the context of the lease.