The word "property" can refer to an object that is owned or the right to own the object. Property includes all things of value and every possible interest a person may have in things of value.
As a general rule, the term "real property" includes land and structures. All other forms of property or assets are "personal property." If property is movable, it is likely to be personal property, rather than real property.
The last revision date for this article was November 1, 2011.