What is Personal Property and Real Property | Michigan Property Explained

As a Michigan estate planning lawyer, knowing the different types of propery is vital.  There are two legal types of property in Michigan.  There is personal property and then there is real property.  You may be asking yourself what is the difference, isn’t all property “real”?

Real property is generally described as buildings, land, houses, commercial buildings, etc.  Think of it as property that is immovable.  Real property also includes the surface (trees, rocks, grass, ground, and underground of property.  This type of property can be thought of as permanenet.  Also note, this type of property includes what is underground as well, such as oil, water, gold, clay.

Personal propery is described as everything else.  For example, your pots and pans, car, household items, patents, retirement accounts, etc.

These types of property are important as it relates to estate planning because estate planning plans for your property and uses specific legal definations as it relates to naming your property.  Another important aspect of these types of property relates to how you title your proeprty.  For example your house, which is real proeprty, would be use a deed to show title of ownership of the property, but your pots and pans would not have any type of deed or title evidencing property.

Christopher J. Berry, Esq.
Oakland County Estate Planning Lawyer