Realty refers to which type of property?

Realty refers to which type of property?

• A. Leasehold Property
• B. Freehold Property
• C. Personal Property
• D. Intellectual Property

Answer: (B)

Realty refers to real property—land and anything permanently attached to it, such as buildings. It’s the category that contrasts with personal property (movable possessions) and with intangible assets like intellectual property. Among the options, freehold property best matches this concept because it denotes ownership of land and the structures on it for an unlimited period. Leasehold describes a temporary right to use the land, not full ownership, so it isn’t the ideal match for the idea conveyed by the term realty.

Realty refers to real property—land and anything permanently attached to it, such as buildings. It’s the category that contrasts with personal property (movable possessions) and with intangible assets like intellectual property. Among the options, freehold property best matches this concept because it denotes ownership of land and the structures on it for an unlimited period. Leasehold describes a temporary right to use the land, not full ownership, so it isn’t the ideal match for the idea conveyed by the term realty.