The terms real estate and personal property have often been confused as to what exactly they mean. Here we clarify it for you. We’ll look at the terms personal property, real property, land, real property, and lastly, real property.

Let’s start with personal property. Personal property, also known as movable property, is everything that is not real estate. Example layers, televisions things of this nature. The pronounced emblems (M-blee-ments) are things like crops, apples, oranges, and berries. Emblems are also personal property. So, when you are going to sell your home, sell it, or wholesale it, you sell or transfer ownership by deed of sale with personal property.

Real estate.

Real property is the broad definition of land, real property, and immovable property.

Land

The earth is everything that mother nature gave us, such as what is under the earth, above the earth and the air space. Also called subsurface (underground), surface (the earth), and airspace. So when you buy land that’s what you get, keep in mind that our government owns a lot of our airspace.

real estate

Real property is defined as land plus man-made improvements added to it. You know things like fences, houses, and driveways. So when you buy real estate, here’s what you can expect to get.

royal property

Real property is land, real estate, and what is called the bundle of rights. The bundle of rights consists of five rights, the right to own, control, enjoy, exclude and finally dispose. Basically, you can own, take control, enjoy, foreclose, and then dispose of your real estate as you wish, as long as you don’t violate state and federal laws.

Finally, there are two other types of property that we must mention.

accessory

The attachment is personal property that has been attached to real estate and is now considered real property. So when selling to determine value you would ask “did you attach it to make it permanent?” The exceptions to this rule are the garage door opener and the door key, these are not considered accessories.

accessories trade

Commercial fixtures are those fixtures installed by a commercial lessee or may be owned by the commercial lessee.

I hope this clears up some misconceptions about personal property, real estate, land and real estate and now business fixtures and fixtures!