What is real property and how does it differ from personal property?

Real property is land and anything permanently attached to it, including buildings, fences, trees, and mineral rights beneath the surface. Personal property, also called chattels, is any movable item not permanently attached to the land, such as furniture, vehicles, and appliances. The key distinction is attachment: when personal property becomes permanently attached to real property, it becomes a fixture and transfers with the land. This distinction matters in real estate transactions because the purchase agreement must specify which items convey with the sale.