RealTown Words

The earth’s surface, the air above, and the ground below, as well as all appurtenances to the land including buildings, structures, fixtures, fences, and improvements erected upon or affixed to the same, excluding growing crops. The term real property includes the interests, benefits, and rights inherent in the ownership of real estate (the bundle of rights).
That which is not real property is personal property. It is important to distinguish between the two, because the law treats real property and personal property differently:
Instruments affecting real property must be in writing and should be recorded, whereas instruments affecting personal property may be oral or written, ordinarily need not be recorded, and can be transferred merely by delivery.

Tax laws make many important distinctions between real and personal property.
The law of the state where the real property is located governs the acquisition and transfer of title to land, including important matters such as rules of descent and probate. Personal property, on the other hand, is movable and is governed by the laws of the jurisdiction in which it is located.

Under common-law principles, leaseholds are treated as personal property, commonly referred to as “chattels real,” although for some purposes (e.g., taxation, condominium), certain long-term leaseholds have been classified by statute as real property.

Court-ordered judgment liens may attach to real property only. Usually, personal property must be sold to pay debts before realty can be levied.