Real property

Real property is land and other assets that are permanently attached to 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