(Answered)List two characteristics each of real, intellectual, and personal property.

(Answered)List two characteristics each of real, intellectual, and personal property.

discussion 1

Real property is something like land and everything permanently fixed to the land, such as trees, house, and the minerals or quarries below the ground.  The primary characteristic of real property is indestructibility and immobility. Intellectual property is a personal property such as patents, copyrights, and trademarks. The two main features of the intellectual property include all rights relating to artistic, literary, and scientific work. It involves the inventions of all fields related to human behavior. Personal Property is mainly acquired via a few basic methods such as manufacture, purchase, or gift and in some cases through the found property. The two main characteristics of the personal property are intangible and tangible.

Owners of personal, real, and intellectual property are treated differently since they do not have the same rights according to the law for many reasons such as the nature of the property, allocation of federal or state jurisdiction, and the development of law in each section. Although all properties are protected each of them is under some types of laws. Each property is protected to suit the kind of property. For example, Trademarks is treated differently from the ownership of a vehicle. Trademarks are usually related to business while the vehicle is personal ownership meaning any issues that may arise would be treated differently.

Real property can be transferred from one owner to another as they wish as they have legal protection of real property transfer under the law. A real property owner chooses the individuals they want to sell the property to using verbal or written contract under the legal contract law, which protects both parties. Due to the legal backing when selling the real property the society is able to continue with the flow of peoples’ lives without extra headaches involved. Personal property is protected under the personal and business property. The owners have the right to protect his or her property under legal law. Intellectual property can be quickly taken, but the law acts in favor of the owner. If no laws protecting intellectual property, people would be afraid to create or innovate new things, which significantly benefits society. People a peace of mind when they know the law will protect their ideas and have freedom of creating new items for the benefit of society.

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