Legal Property Real For Real
Description
How to fill out California Commercial Property Sales Package?
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FAQ
Examples of real property are buildings, canals, crops, fences, land, landscaping, machinery, minerals, ponds, railroad tracks, and roads. Real property is generally taxed at the local level, not the federal level.
Real property is the land and any structures attached to it that would factor into the property value. For example, while a basketball hoop in the driveway is removable and does nothing to increase property value, a fixed basketball court would sell as part of the property.
The best place to find a legal description is usually the most recent deed to the property (the deed that conveyed the property to the current owner). The legal description is usually contained in the body of the deed.
The terms ?real estate? and ?real property? can be used interchangeably. Also, real property may include not just the land, but anything that is permanently located within or under the land.
The law makes a clear distinction between real property and personal property. Real property is immovable. It includes the land, everything that is permanently attached to it, and the rights that "run with" the land. Personal property, on the other hand, is movable.