Personal Property vs Real Property: Understanding the Key Differences

Personal property usually goes with the

seller in a sale, unless otherwise specified in the sales contract.

person, whereas real property stays with the land or building. Personal property is any type of property that you can move or physically carry with you, such as your phone, your clothes, your car, or your furniture. Real property, on the other hand, refers to the land, buildings, and other improvements that are permanently affixed to the ground. Real property can also include natural resources like water, minerals, and crops, as well as any legal rights associated with the land (such as easements or air rights). So, personal property is usually associated with individuals, whereas real property is associated with buildings and land.

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