What's the Difference between Real and Personal Property?
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.