What does “Chattels” mean?

It is a legal term which simply comprises what is otherwise known as “personal belongings”. Chattels comprise everything you basically own, but freehold land is always an exception. Those belongings which are movable, and whose rightful owner is you, constitute your chattels.

What is called tangible property is everything that can actually be seen and touched beginning from the smallest items like your jewelry for example and up to larger goods as your furniture, your stereo equipment and so on. On the other hand, intangible property is considered anything that is contractually based; also, the eventual existence of copyrights or certain patents is also considered an intangible asset.