What term describes any tangible or intangible property that can be lawfully sold, exchanged, or leased, excluding real estate?

The term that describes any tangible or intangible property that can be lawfully sold, exchanged, or leased, excluding real estate, is personal property. Personal property encompasses a wide range of items, including physical goods like vehicles, furniture, and electronics, as well as intangible assets such as stocks and bonds. This classification is significant in auctions and legal contexts, as it differentiates personal property from real property, which refers specifically to land and anything attached to it.

Real property is focused solely on immovable assets and doesn't include movable items, hence it does not fit the description provided. A sealed bid auction is a specific method of auctioning where bidders submit written bids without knowing what others have bid, but it doesn't relate to the classification of property. The term bona fide refers to something genuine or real, often used in legal contexts, but it also does not specifically address the classification of property types. Understanding these distinctions is crucial in the context of auctioneering and property law.