Chattels Real Law and Legal Definition

Chattels real is an interests in real estate less than freehold, such as estates for years, at will and by sufferance. It is a lease of real estate for a term of years constituting an estate less than a freehold estate. Chattel real passes a present interest in real property.

Although possessing many characteristics of an ordinary chattel, chattel real partakes of some of the characteristics of real property because it passes a present interest in land. [Abraham v. Fioramonte, 158 Ohio St. 213 (Ohio 1952)]