Property Ownership
What distinguishes real property from personal property?
AReal property can be owned; personal property cannot
BReal property is immovable land and anything permanently attached to it; personal property is movable✓ Correct
CReal property includes all tangible assets; personal property includes only intangible assets
DReal property is taxed; personal property is never taxed
Explanation
Real property consists of land and anything permanently affixed to it (structures, fixtures). Personal property (personalty) is movable and not permanently attached to land. The distinction matters for tax, transfer, and legal purposes.
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