Legal Definitions - movable estate

Movable estate refers to any property that is not permanently attached to land and can be moved from one place to another. This term is essentially synonymous with personal property. It encompasses a wide range of assets, including tangible items like furniture, vehicles, and jewelry, as well as intangible assets such as stocks, bonds, and intellectual property, provided they are not considered real estate (land and anything permanently affixed to it).

Here are some examples to illustrate the concept of movable estate:

• Example 1: A collection of vintage musical instruments.

  A musician owns several rare guitars, a piano, and a drum kit. These instruments are all physical objects that can be transported from their home to a performance venue, a recording studio, or a new residence. Because they are not permanently affixed to the property and can be relocated, they are considered part of the musician's movable estate.

• Example 2: A fleet of delivery trucks owned by a logistics company.

  A shipping company operates a large number of trucks used to transport goods across the country. While these vehicles are valuable assets, they are designed for movement and are not fixed to any specific plot of land or building. Therefore, the entire fleet of trucks constitutes a significant portion of the company's movable estate.

• Example 3: Artwork and sculptures displayed in a private gallery.

  An art collector owns numerous paintings, sculptures, and other art pieces that are exhibited in their private gallery space. Although these items may be carefully arranged, they are not permanently installed into the building's structure. They can be removed, transported, sold, or relocated to another property, making them part of the collector's movable estate.