Property Ownership
In Pennsylvania, what is the difference between 'real property' and 'personal property'?
AReal property is owned by individuals; personal property is owned by corporations
BReal property is land and anything permanently attached to it; personal property is movable property not permanently affixed to land✓ Correct
CReal property requires recording; personal property does not
DReal property is taxed by the county; personal property is not subject to Pennsylvania property tax
Explanation
Real property (realty) includes land, structures permanently attached to land, and fixtures — items of personal property attached to real property with the intent to make them permanent. Personal property (personalty) is movable property not permanently affixed — furniture, appliances, vehicles. This distinction matters critically in Pennsylvania real estate transactions: what 'conveys' with the property (real property and fixtures) versus what the seller takes (personal property). Disputes about whether items are fixtures are common and should be addressed in the contract.
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