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Immovable properties include land and other things attached to or permanently rooted in the earth and movable properties are those which can be easily moved from one place to another.
Registration is not required for movable properties.
There are a lot of legal terms related to property that are difficult for a common man to understand. Only those with legal sense can understand them better. Similarly, people usually have confusion regarding movable and immovable property. Today, we will clear up this confusion of yours.
This information can be very useful for you before buying a house or any property. After all, we invest a significant amount of money in buying property. For this, it is very much necessary to know what the different types of properties are. Let us tell you, there are two types of properties, movable and immovable.
What are movable and immovable properties?
The property which cannot be moved from one place to another is called immovable property, for example, a house, shop, factory, etc. According to Section 3(26) of the General Clauses Act, of 1897, immovable properties include land and other things attached to or permanently rooted in the earth.
Movable properties are those which can be easily moved from one place to another, for example, cars, jewellery and laptop. According to Section 2(9) of the Registration Act, 1908, movable properties also include timber, crops and grass, fruits, and fruit juice in trees. Fixed assets are generally considered to be a real estate like residential houses, godowns, manufacturing units, or factories. Plants or trees affixed to the land also come under immovable property. Immovable properties are subject to legal regulations and taxes.
Difference between movable and immovable property
As earlier mentioned the properties which are not attached to land and can be moved from one place to another are called movable properties which are also called floating assets. Registration is not required for movable properties. If the value of the immovable property is more than Rs 100, then its registration is necessary under the Registration Act 1908. Movable property can be easily divided while immovable property cannot be divided. Immovable properties cannot be transferred to anyone without making a will or without gifting or partitioning, whereas movable property can be easily gifted to anyone.
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