Property Ownership
Personal property differs from real property in that personal property is:
AFixed to the land and immovable
BMovable and not permanently attached to real estate✓ Correct
CRecorded in the county deed book
DTransferred by deed
Explanation
Personal property (also called personalty or chattel) is movable property not permanently attached to land or buildings. Real property (realty) is immovable land, buildings, and items permanently affixed to them.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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