What distinguishes real property from personal property?

The distinction between real property and personal property primarily lies in the aspect of immobility. Real property refers to land and anything permanently attached to it, such as buildings, roads, and trees. This characteristic emphasizes that real property is fixed in place and cannot be easily moved without altering its fundamental nature. For example, a house or a piece of farmland qualifies as real property because these assets are intrinsically linked to the earth itself.

In contrast, personal property encompasses movable items that are not permanently affixed to any one location, such as furniture, vehicles, and equipment. The mobility of personal property allows it to be transferred or relocated without affecting its classification.

The other options do not accurately convey this fundamental distinction; for instance, not all real property is publicly owned, and taxation rates can vary widely based on local laws and regulations, making these choices irrelevant to the core definition.