What is the difference between real property and personal property

Answers:

Real vs. Personal Property

Real Property refers to land and things permanently attached to the land. Personal property generally refers to everything else: the items which are movable and not a part of the land.

For example, I own 40 acres, named (as all law students know) Blackacre. I build a house and a yard barn on the property, and park my car in the yard. When I sell the "real estate", I can take the car, but I cannot take the barn and house (if that were somehow physically possible), because they've become "fixed" to the land, and pass with the land. Likewise, when the house and land is sold, I can take my tv and sofa out of the house, but I can't remove the cabinets, because they've become fixed to the house, which is fixed to the land, which means it passes with the land.

Local custom may determine what usually "comes with" the house and what the seller usually removes prior to vacating. (e.g., Are the hot tub and swing-set "attached" or still portable?) A "manufactured home" may be portable, then fixed, then portable again, so these issues would be good to discuss in writing. You can also sell a barn (or anything else movable) without selling the land it sits on.

Similarly, removal of forests or minerals (purchased as real property) converts them to "personal property". Agricultural crops may be deemed personal property, if they are intended to be severed from the land.
 

Clarification

To put it simply . . . real property is land and anything permanently attached to it. Personal property can be tangible or intangible.

Tangible personal property is something you can touch and is movable. Intangible personal property is property that has no physical existence. Examples are: stocks, bonds, bank notes, trade secrets, patents, copyrights, professional reputation, goodwill and trademarks. Some "untouchable" items may be represented by a certificate or license.

Personal property is anything you own other than real property and is divided into two categories: tangible and intangible. Tangible personal property is something you can touch and is movable. Intangible personal property is property that has no physical existence. Examples are: stocks, bonds, bank notes, trade secrets, patents, copyrights, professional reputation, goodwill and trademarks. Some "untouchable" items may be represented by a certificate or license. Real property is land, anything attached to it and any rights that are appurtenant.
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