Real property vs. Personal Property

Question 1

Real Property

Answer 1

Includes land and everything permanently attached to the land. Artificial or natural

Question 2

Personal Property

Answer 2

anything that is not permanently attached to property

Question 2

Real Property Terms

Answer 2

custom, built-in, attached, bracketed, in-ground, fixture

Question 3

Personal Property Terms

Answer 3

easily movable, clearly not related to property (clothing, furniture), free standing, of personal nature (pictures, wall, decor)

Question 4

Trade Fixtures

Answer 4

Equipment placed on or attached to real estate that the renter uses in their trade or businesses Ex:Display shelves installed by a business owner in a rented building

Question 5

Emblements

Answer 5

Annual crops grown through cultivation and are considered personal property of the tenant who grew them

Question 6

When in confusion of what’s real and personal property?

Answer 6

specify in the listing agreement or sales agreement the items that the seller wishes to remain or remove upon selling the property. Real and Personal property can be subject to interpretation best to be crystal clear in writing

Question 7

Under what circumstances can a seller remove a fixture before listing a property for sale?

Answer 7

If seller removes fixture items before listing the property or stated in contract that they intended to take the items they are entitled to do so. fixtures removed from little property before in agreement of sale or after negotiation becomes personal property again through severance

Question 8

Severance

Answer 8

Taking an item that is attached to the land and removing it is personal property