Goods and chattels generally refer to property that is not real estate, but the extent of the terms' coverage of property is highly challenged and jurisdiction specific. In common law, the term broadly included any moveable property or property rights that did not involve land and real estate, including rights such as leases. However, in modern statutes and case law, goods and chattels can be much less inclusive. The term can sometimes include intangible property like leases or bitcoin, but often the term only includes physical, moveable property which sometimes may not even include money. Given the variation of the term, it is important to look at the term as used in a given statute or jurisdiction. The distinction between the usage of the term can be important in a variety of contexts including taxes and contracts.
[Last updated in February of 2022 by the Wex Definitions Team]