Real property

Real property is land and other assets that are permanently attached to the land. These other assets must be permanently placed on or under the land. Examples of real property are:

  • Buildings

  • Canals

  • Crops

  • Fences

  • Land

  • Landscaping

  • Machinery

  • Minerals

  • Ponds

  • Railroad tracks

  • Roads

All other assets are classified as personal property, which is comprised of movable assets. For example, the furniture within a house is personal property, while the house is real property.

Similar Terms

Real property is also known as real estate.

Related Courses

Fixed Asset Accounting 
Real Estate Accounting 
Real Estate Taxation Problems