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
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Property
Personal Property
Real Property
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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. Personal property is movable property. It's anything that can be subject to ownership, except land. Real property is immovable property - it's land and anything attached to the land. Normally, a piece of property can be easily classified as either personal property or real property. The difference between the two is usually fairly straightforward.