Understanding Personal Property Law: What You Need to Know

This covers...

• The difference between real property and personal property.

• Real property.

• Why this matters.

Real and Personal Property:

• Property law is an old concept. This concept is divided into real and personal.

• Real property is in basic terms limited to land.

• Personal property concerns all other assets.

Real Property:

• Real property was initially more important due to the importance of land and the link between land and status.

• What differentiates real and personal property is really that land cannot be fully owned.

• In England land is technically owned by the crown and all that can be owned by a buyer is an estate in land. (If you would like to find out more about what an estate in land is stay posted for future posts).

Why this matters:

• It is important to know your rights regarding real and personal property so that you may take proper action if things were to go wrong.

• It also enables you to know exactly what you can and cannot do with your property.