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Real and Personal Property
Property is further broken down into personal property and real property. Real property is land and anything permanently attached to it. Personal property is anything other than real property.
Discussion: Can you think of any reason why the law would differentiate real from personal property? What characteristics make real property unique from personal property?
- Robinson, Glen O., Personal Property Servitudes (December 2003). Univ. of Virginia Law & Econ Research Paper No. 03-9. Available at SSRN: https://ssrn.com/abstract=477541 or http://dx.doi.org/10.2139/ssrn.477541Dooling, Bridget C.E., Take it Past the Limit: Regulatory Takings of Personal Property. Federal Circuit Bar Journal, Vol. 16, p. 445, 2007. Available at SSRN: https://ssrn.com/abstract=999978Prebble QC, John, The Taxation of Property Transactions Part 1, Personal Property and Profit-Making Schemes (1985). John Prebble “The Taxation of Personal Property Transactions” (LexisNexis, Wellington, 1985); Victoria University of Wellington Legal Research Paper No. 68/2013. Available at SSRN: https://ssrn.com/abstract=1576951