Which of the following best describes "chattel real"?

Chattel real refers specifically to items of personal property that are related to real estate and are considered part of it. This includes things like leasehold interests, which represent a right to use property without owning it outright. Essentially, while chattel itself generally pertains to personal property, chattel real combines elements of both personal property and real property, recognizing that certain personal property can acquire a legal status tied to real estate.

This concept is particularly important in real estate law because it helps clarify rights and interests in property transactions. For instance, the lease of an apartment or office space is an example of chattel real; tenants have a personal property interest in the lease while the real estate itself remains owned by another party.

The other options do not encapsulate this definition accurately. An item of personal property not attached to real estate describes personal property in general but does not connect to the real estate aspect, while a legal restriction on property use pertains to zoning laws or easements, which are not classified as chattel real. A form of personal debt does not align with the concept of chattel real, as it discusses financial obligations rather than property rights.