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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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ekems2017(f): 6:58am On Apr 06, 2017 |
Ok thks
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Soljaboi44(m): 6:59am On Apr 06, 2017 |
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veekid(m): 6:59am On Apr 06, 2017 |
Property difference from property? Okay o nice one OP
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MidasTouche01(m): 7:00am On Apr 06, 2017 |
Insightful
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money121(m): 7:00am On Apr 06, 2017 |
Ok
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BreezyCB(m): 7:00am On Apr 06, 2017 |
Okay
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Re: Difference Between Personal Property And Real Property by Nobody: 7:01am On Apr 06, 2017 |
P
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Justuceleague2: 7:03am On Apr 06, 2017 |
Thank you for this wonderful info
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money121(m): 7:03am On Apr 06, 2017 |
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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
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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.
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wildchild1: 7:10am On Apr 06, 2017 |
Well said... CHECK my signature for your football jerseys |
Re: Difference Between Personal Property And Real Property by Nobody: 7:13am On Apr 06, 2017 |
Good
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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/
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MrImole: 7:21am On Apr 06, 2017 |
,
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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 |
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LAFO: 7:31am On Apr 06, 2017 |
Nicely sponsored post
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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 |
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charlsecy(m): 10:21am On Apr 06, 2017 |
PropertiesNaija:I had thought bank notes should be considered a tangible? |
tolaabi: 11:54am On Apr 06, 2017 |
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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.
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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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