Chattels (in the context of personal property)
A chattel is an object that is capable of being owned as personal property and is distinguished from real property (i.e. land).
In the context of personal property, these types of objects are known as “chattels personal” and can either be tangible or intangible. Tangible personal property means that the chattel has a physical embodiment and are capable of being in someone’s physical possession. Examples of tangible personal property include equipment, motor vehicles and household goods. Intangible personal property refers to something that does not have a physical embodiment, however, it does represent something of value. An example of intangible personal property include shares and chooses in action.
Personal property may be classified as either a fixture or a chattel.
Pursuant to section 10 Personal Property Securities Act 2009 (Cth), personal property is broadly defined as property other than land. A chattel, therefore, falls within the definition of personal property and security interests in respect of chattels are capable of being registered on the Personal Property Securities Register.