THE DIFFERENCE BETWEEN REAL PROPERTY & PERSONAL PROPERTY IN REAL ESTATE

In Georgia, the distinction between real property and personal property is essential in real estate transactions:

1. Real Property:
   

Real property, also known as real estate, is immovable and considered part of the land. It is subject to property taxes and is typically conveyed through deeds.
Examples of Real Property:

• Land: The physical ground and any improvements on it (e.g., houses, buildings, fences).
  
• Residential Structures: Houses, condos, townhouses, and apartment buildings.
  
• Commercial Buildings: Office complexes, retail stores, warehouses.
  
• Permanent Fixtures: Anything attached to the land or structures (e.g., HVAC systems, built-in cabinets).
  
• Mineral Rights: Ownership of minerals beneath the land.
  
• Easements: Rights to use someone else’s land for specific purposes (e.g., utility lines).
  
• Water Bodies: Lakes, ponds, rivers, and streams.
  

1. Personal Property:
   

Personal property is movable and not part of the land itself. It is subject to taxation but often assessed separately from real property. 
Examples of Personal Property:

• Furniture and Appliances: Movable items inside a home (e.g., sofas, refrigerators).
  
• Vehicles: Cars, trucks, motorcycles.
  
• Collectibles: Artwork, antiques, coins, stamps.
  
• Intangible Assets: Stocks, bonds, patents, copyrights.
  
• Boats and Aircraft: Watercraft and planes.
  
• Mobile Homes: Although movable, they are considered personal property unless permanently affixed to land.
  
• Leased Equipment: Machinery or tools used in business operations.
  

In summary, real property refers to land and its permanent fixtures, while personal property includes movable assets. Understanding this distinction is crucial for legal, tax, and ownership purposes in Georgia.

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