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Difference Between Personal Property And Real Property - Properties - Nairaland 223z6j

Difference Between Personal Property And Real Property (11007 Views)

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Difference Between Personal Property And Real Property by Nobody: 6:53am On Apr 06, 2017
This is for some little education..

Personal property is movable property. It is anything that can be subject to ownership, except land. Real property is immovable property – it’s land and anything attached to the land. This article reveals the difference between personal property and real property.
There are two types of property. In legal , all property will be classified as either personal property or real property. This distinction between types of property comes from English common law, but our modern laws continue to distinguish between the two.

A lot of people are constantly faced with defining the difference between Personal property and Real property. Most of these people are those who want to convert personal to real property. They usually end up frustrated most of the time, as ignorance of what these entails cost them to make great loss. This article therefore aims to provide a basic, and precise answer, or say, solution to this problem to usually beset people in the property market.

First, let us define both . Real property is land, anything attached to it and any rights that are appurtenant. Personal property is anything you own other than real property and is divided into two categories: tangible and intangible.
Tangible personal property is something you can touch and is movable. Intangible personal property is property that has no physical existence. Examples are: stocks, bonds, bank notes, trade secrets, patents, copyrights, professional reputation, goodwill and trademarks.

Some “untouchable” items may be represented by a certificate or license. If you were building a house and received a delivery of the sinks, toilets, bathtubs and heating and air conditioning equipment, all those boxes and crates stored in the unfinished dwelling would be personal property. Once it was all installed it would become part of the real property.

Therefore the personal property would have been converted to real property. If you sold the home after it was completed that property could not be removed since it would be legally considered part of the real property. The simpler answer to look at this is that the
way to convert personal property into real property is to sell the personal property, then
use the cash to buy real property.

Source:
www.nigeriarealestatehub.com/personal-property-real-property.html/


www.naijapropertiesonline.com

6 Likes 1 Share

Re: Difference Between Personal Property And Real Property by Nobody: 6:54am On Apr 06, 2017
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Title: C of O

Destiny Gardens phase 1: Ibeju Lekki
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Title: Government's Excision

Destiny Gardens phase 2: Ibeju Lekki
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Title: Government's Excission

Legacy Gardens phase 1: Eleranigbe
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Title: Government's Excission

Legacy Gardens phase 2: Eleranigbe
Description: 600sqm = #3M
Title: Government's Excission

Oakwood Gardens phase 3: Ibeju Lekki
Description: 600sqm = #5M
Title: Government's Excision

Paradise Gardens: FTZ Ibeju Lekki
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Open Heavens phase 2: Eleranigbe
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Diamond Estate phase 1: Off Monastery road, Sangotedo, Ajah
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Title: Government's Excision

Trinity Gardens phase 2: Eleranigbe
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Atlantic Bay Estate: Behind May Fair Gardens, Awoyaya.
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Title: Government's Excission


Call/WhatsApp: +2348075256644
[email protected]


www.naijapropertiesonline.com
ekems2017(f): 6:58am On Apr 06, 2017
Ok thks
Soljaboi44(m): 6:59am On Apr 06, 2017
grin

1 Like

veekid(m): 6:59am On Apr 06, 2017
Property difference from property? Okay o nice one OP
MidasTouche01(m): 7:00am On Apr 06, 2017
Insightful
money121(m): 7:00am On Apr 06, 2017
Ok
BreezyCB(m): 7:00am On Apr 06, 2017
Okay
Re: Difference Between Personal Property And Real Property by Nobody: 7:01am On Apr 06, 2017
P
Justuceleague2: 7:03am On Apr 06, 2017
Thank you for this wonderful info
money121(m): 7:03am On Apr 06, 2017
Contractor: *Ayyub*

Client: Nairalander

Material: *Aluminum (0.45mm thick)*

Style: *Longspan (Mentral)*

Colour:Traffic Black

*Roof:* 590m @ N1750/mtr = *N1,032,500*

*Flat Sheet:* 62m @ N1750 = *N108,500*

*Cladding:* 95m @ N1750 = *N166,250*

*Accessories:* = *N40,000*


Bending =#5,000
Transportation =#60,000
Workmanship =#90,000

*Total* = *N1,502,250*

Location: The house is at Uteh, close to upper mission road in Benin Edo State

Call/WhatsApp 08085310359 For your Next Roofing Project

MuyiRano(m): 7:05am On Apr 06, 2017
Nice one.
.
I just found this.
.
The distance between Egypt and Israel is about
613km.But it took Moses and the Israelites 40
years to complete their journey.On average
each day they walked only 43 metres,yes only
43 metres,almost half of what Usain Bolt do in 5
seconds.I just wish if Moses was around to explain this laziness _Robert Mugabe

1 Like

JewelRegi(f): 7:07am On Apr 06, 2017
Nice one
Treash(m): 7:09am On Apr 06, 2017
A lot of Land sale adverts and posts have swept off the internet by self acclaimed Estate agents and companies with juicy offers and cheap prices. In the circumstance, prospective buyers are in a bid to procure the land unverified. May i relate with you that once you make your payments, the estate companies with default land documents then move to the next available victims, leaving you to engage in unwarranted expensive court litigation. Before you engage in a landed transaction, make sure you secure the attention and legal advice of a real estate solicitor to help in negotiation, search, verification, and probably proper execution of your final documents. Dont be appeased by a mere receipt as its inissible in court as a proof of title to land. Though the lawyer will charge his professional fees, but its quite unquantifiable to the subsequent loss you will incur on the entire land, when you have realised the land is fake. For further enquiries, any of your lawyers or you can rather reach us on 08068088866 and 09090803205. Thank you. Its Barrister Ayo Aderinto, Nigeria.
wildchild1: 7:10am On Apr 06, 2017
Well said...


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Re: Difference Between Personal Property And Real Property by Nobody: 7:13am On Apr 06, 2017
Good

Re: Difference Between Personal Property And Real Property by Nobody: 7:14am On Apr 06, 2017
Semi and fully detached five (5), four (4) and two (2) bedroom duplexes with all rooms ensuite and BQ, are up for sale.
Faculties: Gym, swimming pool and event centre.
Location: Lekki, Lagos.
Flexible payment options available.


Call/WhatsApp: +2348075256644
[email protected]

www.naijapropertiesonline.com/listings/2nd-toll-gate-ochid-hotel-road-eleganza/

MrImole: 7:21am On Apr 06, 2017
,
MrImole: 7:26am On Apr 06, 2017
Personal property is personal while real property is real.















It's not easy to carry real properties around e.g lands, estates etc, but personal properties can be transferred from one place to the other e.g Cars, phones etc
jeftalene(m): 7:27am On Apr 06, 2017
Good piece!

Meanwhile always check out the latest prices of building materials in Nigeria, current construction workers labour rates, get advise, read free construction tips and meet a professional contractor on www.engineerosaz..com

Blessings on every side!
LAFO: 7:31am On Apr 06, 2017
Nicely sponsored post
horlabiyi(m): 7:55am On Apr 06, 2017
Nice.

But


Can I get some


LIKEs

Because today 6 April is my day.
sakalisis(m): 8:18am On Apr 06, 2017
cool
charlsecy(m): 10:21am On Apr 06, 2017
PropertiesNaija:
Tangible personal property is something you can touch and is movable. Intangible personal property is property that has no physical existence. Examples are: stocks, bonds, bank notes, trade secrets, patents, copyrights, professional reputation, goodwill and trademarks.
I had thought bank notes should be considered a tangible?
tolaabi: 11:54am On Apr 06, 2017
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PropertiesNaija:
This is for some little education..

Personal property is movable property. It is anything that can be subject to ownership, except land. Real property is immovable property – it’s land and anything attached to the land. This article reveals the difference between personal property and real property.
There are two types of property. In legal , all property will be classified as either personal property or real property. This distinction between types of property comes from English common law, but our modern laws continue to distinguish between the two.

A lot of people are constantly faced with defining the difference between Personal property and Real property. Most of these people are those who want to convert personal to real property. They usually end up frustrated most of the time, as ignorance of what these entails cost them to make great loss. This article therefore aims to provide a basic, and precise answer, or say, solution to this problem to usually beset people in the property market.

First, let us define both . Real property is land, anything attached to it and any rights that are appurtenant. Personal property is anything you own other than real property and is divided into two categories: tangible and intangible.
Tangible personal property is something you can touch and is movable. Intangible personal property is property that has no physical existence. Examples are: stocks, bonds, bank notes, trade secrets, patents, copyrights, professional reputation, goodwill and trademarks.

Some “untouchable” items may be represented by a certificate or license. If you were building a house and received a delivery of the sinks, toilets, bathtubs and heating and air conditioning equipment, all those boxes and crates stored in the unfinished dwelling would be personal property. Once it was all installed it would become part of the real property.

Therefore the personal property would have been converted to real property. If you sold the home after it was completed that property could not be removed since it would be legally considered part of the real property. The simpler answer to look at this is that the
way to convert personal property into real property is to sell the personal property, then
use the cash to buy real property.

Source:
www.nigeriarealestatehub.com/personal-property-real-property.html/


www.naijapropertiesonline.com

Re: Difference Between Personal Property And Real Property by Nobody: 8:05pm On Apr 06, 2017
A Half plot of Land close to the Main road at Ikoga, Mowe, Badagry, Lagos is up for sale at NGN300,000. Genuine. Whatsapp: 0905-118-2600.
Re: Difference Between Personal Property And Real Property by Nobody: 9:54am On Apr 08, 2017
A three (3) bedroom duplex with another two(2) bedroom flat at the back, on a plot of land, with ample parking space and in a serene and secure environment, is up for sale.
Location: Akute
Title: C of O
Price: #25 million (negotiable)


Call/WhatsApp: +2348075256644, +2347030281042
[email protected]

www.naijapropertiesonline.com

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