Question: Do You Own Real Property?

Is owning a home considered real estate?

Laws Governing Real Property

Real property includes things like your home and the land on which it lies, while personal property includes moveable goods.

Your car, clothes, and most of your personal possessions are personal property.

There are special legal requirements controlling the ownership of real property.

What is included in real property?

Real property is land and any property attached directly to it, including any subset of land that has been improved through legal human actions. Examples of real properties can include buildings, ponds, canals, roads, and machinery, among other things.

Is real property the same as real estate?

Real property is a broader concept than real estate. In other words, real estate is a term that defines a set of physical things, while real property is a concept that includes those things plus the legal rights attached to it. Some common real property rights include ownership, possession, and use and enjoyment.

What is considered real property for tax purposes?

Real property, in general, is land and anything permanently affixed to land (e.g. wells or buildings). Structures such as homes, apartments, offices, and commercial buildings (and the land to which they are attached) are typical examples of real property.