Terms relating to real estate and personal property have often been confused as to their exact meaning. Here we will clarify this for you. We will examine the terms personal property, real estate, land, real estate and finally real property.
Let's start with personal belongings. Personal property, also called movable property, refers to anything that is not real property. Example of sofas, televisions things of this nature. The pronounced emblems (M-bleeding) are things like crops, apples, oranges and berries. Emblems are also personal property. So when you are going to sell your home, return or enter into a wholesale agreement, you sell or transfer the property by a deed of sale with a personal property.
Real estate is the broad definition for land, buildings and real estate.
The earth is all that Mother Nature has given us, such as what lies beneath the earth, above the earth and in the airspace. Also called sub-surface (basement), surface (dirt) and airspace. So when you buy land, keep in mind that our government owns a lot of our airspace.
The real estate is defined as the land plus its improvements made by the man. You know things like fences, houses and alleys. So when you buy real estate, that's what you can expect to get.
Real estate is land, real estate and what is called the bundle of rights. The bundle of rights includes five rights, the right to own, control, enjoy, exclude and dispose at last. So basically, you can own, take control, take advantage, exclude other people, and then dispose of your property as you please, provided you do not break federal or federal laws.
Finally, two other types of property should be mentioned.
The fixture is a personal property that has been attached to a property and is now considered real estate. So you would ask yourself, at the time of the sale, to determine the value "did you attach it to make it permanent?" Exceptions to this rule are the garage door opener and the door key, they are not considered fixtures.
Commercial appliances are appliances installed by a commercial tenant or may be the property of the commercial tenant.
I hope this dispels some misconceptions about moveable property, real estate, land and real estate, and now, fixtures and commercial facilities!