This lesson provides an introductory overview of the distinction between real property and personal property, including the historic origins of the distinction, the consequences of attaching things to land and severing things from land, the significance of fixtures, and examples of intangible property classified as real or personal property.
On completion of the lesson, the student will be able to:
1. Define property.
2. Define real property.
3. Define personal property.
4. Explain the consequences of attaching things to land.
5. Explain the consequences of severing things from land.
6. Define fixtures.
7. Explain the significance of fixtures.
8. State examples of intangible property classified as real or personal property.
9. Describe the settings in which the distinction between real and personal property matters.