8 Main Differences between Real Property and Personal Property are listed below:
Real Property:
1. Examples: Land, buildings, factories, etc. are the real properties
2. Permanent: They have permanent character
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3. Transfer: Almost all the real properties are required to be written and registered under the Indian Registration Act, 1908 and the Indian Stamp Act, 1899, whenever they are transferred from one person to another.
4. Immovable: All real properties are immovable in nature.
5. Generations: In majority, the real properties pass on several generations.
6. Needs: All the real properties fulfill the needs of the people. Roti, kapada and makan are the needs. These are bare necessities and essentials for human beings. The real properties fulfill these needs.
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7. Appearance: All real properties are visible to the eye.
8. In certain occasions, the real properties may be used as personal properties. Example: Annuity, lease, patta certificate, etc.
Personal Property:
1. Examples: Computer, typewriter, car, dresses, etc are personal properties.
2. Temporary: Comparing with the real properties, the personal properties are temporary.
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3. Transfer: Writing and registration are not necessary for the transfer of personal properties. Mere delivery is sufficient. In certain occasions, writing is also necessary, as in case of transfer of automobiles.
4. Movable: – Majority of personal properties is movable in nature.
5. Generation: In minority occasions only, the personal properties pass on two or more generations.
6. Wants: All the personal properties fulfill the wants of the people. Wants are desires. Desire to purchase car, scooter, TV. Etc. are the wants.
7. Appearance: Majority of personal properties are visible. Some of them are not visible. Patent right, copy right, good-will, etc. are the personal properties, which are not visible.
8. Annuity, lease, patta certificate, etc. are personal properties, even though they are related with real properties.