Title: Real Property and Personal Property: Definition and Differences - Video & Lesson Transcript | Study.com
Headings: Real Property and Personal Property: Definition and Differences
Real Property and Personal Property: Definition and Differences
Lesson Transcript
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Property
Personal Property
Real Property
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Prompts About Real Property and Personal Property:
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Real Property and Personal Property: Definition and Differences
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Much of business law deals with property. There are actually two different types of property: personal property and real property. This lesson explains the differences between these two types of property. Create an account
Property
There are two types of property. In legal terms, all property will be classified as either personal property or real property. This distinction between types of property comes from English common law, but our modern laws continue to distinguish between the two. Each type of property is treated differently under the law. There are many different types of laws that specifically pertain to personal property, and many other types of laws that pertain specifically to real property.