Is It Real or Personal Property?
This image is taken from google.com. I remember when I was in grade school, I would write something on the front page of my notebooks saying "Real Property of Urbano T. Mante, Jr." to have a sort of a mark that those notebooks were mine. Sometimes my classmate would ask me to change it to "Personal Property" because those notebooks were personally owned by me. So, I would sometimes interchange Real to Personal Property. However in law school, I learned that real and personal property are two different things. The Civil Code of the Philippines, particularly Articles 414-418, discusses the differences between real and personal property. Real property is also known as IMMOVABLE property while personal property is called as MOVABLE property. As the names suggest, immovable property is basically stationary and cannot be moved or transferred to another place. On the other hand, movable property refers to the property that can be moved with ease. ...