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What is the difference between real property and personal property?


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Wiki User
2016-11-06 16:02:49
2016-11-06 16:02:49

See above.


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Wiki User
2014-10-11 15:00:49
2014-10-11 15:00:49

To put it simply, real property is land, anything under the land, anything permanently attached to it, and the bundle of rights that are appurtenant to it. Personal property generally refers to everything else: the items which are movable and not a part of the land.

Personal property can be tangible or intangible. Tangible personal property is something you can touch and is movable. Intangible personal property is property that has no physical existence. Examples are: stocks, bonds, bank notes, trade secrets, patents, copyrights, professional reputation, goodwill, and trademarks. Some "untouchable" items may be represented by a certificate or license.

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The difference between personal property and real property is that personal property can depreciate faster than improvement made on real property.

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There are a few differences between real property tax and personal property tax. First, the term "real" usually involves homes, apartments, or land that a person may own. Personal property tax usually refers to personal luxury items such as jewelry. Additionally, vehicles are not considered "real" property. Real property is sort of land-based property. Another example would be a farmhouse or even a bridge.

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Real Estate and Real Property are one in the same. All "REAL" is Land & fixtures attached to the land. All other property would be considered...Personal.

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Property is that which an individual owns. Real property is real estate, land, investment/rental properties, homes, etc. Personal property is jewelry, art, automobiles, valuable collections, cash and financial assets other than real property.

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Artisans lien is against personal property and is possessory. Mechanic's lien relates to real property.


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