What is the main difference between "real property" and "personal property"?

The distinction between "real property" and "personal property" is fundamental in real estate. Real property refers to land and anything that is permanently attached to it, such as buildings, trees, and other fixtures. This permanence is a key characteristic; real property is generally not intended to be moved from its location.

On the other hand, personal property encompasses items that are movable and not fixed to one location, such as furniture, vehicles, and jewelry. This property can be easily transferred from one person to another.

Understanding this separation is critical in various aspects of real estate transactions, including ownership rights, taxation, and legal considerations. When assessing property in terms of buying, selling, or leasing, recognizing which category the property falls into can significantly influence the transaction and the rights associated with that property.