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Real Estate Finance & Investments 15th Edition by William Brueggeman, Jeffrey Fisher
Edition 15ISBN: 978-0073377353Real Estate Finance & Investments 15th Edition by William Brueggeman, Jeffrey Fisher
Edition 15ISBN: 978-0073377353 Exercise 1
What is the difference between real property and personal property
Explanation
Verified
Verified
When a person owns something legally, it is called the property of that person.
The property is broadly divided into two categories as follows:
1. Real Property
2. Personal Property
Real property refers to the ownership rights associated with realty which is referred to the land and the things which are permanently attached. These properties are not movable. For example, building, office, land, residence, real estate etc.
Personal property refers to the ownership rights associated with personalty. Personalty includes all things, tangible, intangible, and things which are movable and not realty. For example, car, bike, television, wrist watch, clothes, computer, laptop etc.
The property is broadly divided into two categories as follows:
1. Real Property
2. Personal Property
Real property refers to the ownership rights associated with realty which is referred to the land and the things which are permanently attached. These properties are not movable. For example, building, office, land, residence, real estate etc.
Personal property refers to the ownership rights associated with personalty. Personalty includes all things, tangible, intangible, and things which are movable and not realty. For example, car, bike, television, wrist watch, clothes, computer, laptop etc.
Real Estate Finance & Investments 15th Edition by William Brueggeman, Jeffrey Fisher
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