What term is used to refer to personal property or personalty?

The term "chattel" refers specifically to personal property or personalty, which encompasses movable items that are not affixed to real estate. This can include tangible items such as vehicles, furniture, and equipment. In legal contexts, distinguishing between real property (land and anything permanently attached) and personal property is crucial, as it affects ownership rights, transfer, and legal claims.

The other terms listed do not pertain to the definition of personal property. For instance, "chain of title" refers to the history of ownership of a particular piece of real estate, tracking its legal ownership from one party to another. "Cloud" typically indicates a claim or potential claim on title to real property that may affect ownership and transfer; it does not relate to personalty. Lastly, "collateral" refers to an asset that a borrower offers to secure a loan, which ties more closely to the context of financing rather than strictly defining personal property. Therefore, understanding these distinctions clarifies why "chattel" is the appropriate term for personal property.