What's the Difference between Real and Personal Property?

 

When people die, they own different kinds of property. Learn more about the difference between "real" and "personal" property.

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Many states make a distinction between personal property and real property when they set out the rules for which estates are small enough for either an Affidavit procedure or a summary probate procedure. What's the difference?

Personal property means things that people own that are moveable, as in not fixed to the land. Examples are: cash, stocks, bonds, cars, vehicles, clothes, furniture and furnishings.

Real property means things that are land and things affixed to the land. Examples are: houses, and other buildings, as well as the property underneath them and the rights associated with the land, like water, mineral, and other rights.





Jurisdictional relevance: US

Legal Consumer - Nevada County, ARLaw. The content of this article pertains to all US states and counties.