Real vs personal property
Real property
Land, everything permanently attached to it, and the rights that go with it
Real property is the land itself, the improvements on it, whatever is beneath and above it, and the legal rights of ownership — the bundle of rights. It is defined by permanence and by immobility.
How the exam asks about it
Realty and real estate are used interchangeably with it. Watch for questions distinguishing the physical land from the rights: a bundle-of-rights question is asking about the legal side.
Related terms
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