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What are the Difference Between Movable and Immovable Properties

What Is Movable Property?

What Is Immovable Property?

What Is the Difference Between Immovable and Movable Properties?

Now that you know about the two types of properties, the difference between the two can help you know more. The following table will give you a better idea regarding movable VS immovable property.

Parameter

Movable Property

Immovable Property

Concept

You can transport this type of property from one location to another. You do not need to make significant changes in their shapes, sizes, or other qualities while moving them.

You can hardly transport these properties from one location to another. If you move, they might lose their original shape, size or other qualities.

Rights

It allows the right of worship, decree of sale of a mortgaged property and royalty.

It allows the right to collect the rent of immovable property, ferry, fishery, way, etc.

Ownership

The ownership of this type of property rests with contact laws and other common laws. Any practitioner of common law can deal with it.

The ownership of this type of property comes under the regulations of the Deeds Registries Act and the Sectional Titles Act. Only property law practitioners can deal with these.

Registration

You do not need any legal registration for movable properties. However, you can get it if you want or the others want to get it.

One must register every immovable property exceeding ₹ 100 under the Registration Act, 1908. You cannot enjoy immovable properties without a registration.

Taxation

This property type is mainly subjected to the Good and Services Tax (GST). You might have to pay GST while dealing with these.

This type of property is subjected to stamp duty according to the Indian Stamp Act, 1899. You will have to pay the stamp amount for registering this property.

Inheritance

These properties can be easily inherited and divided. Anyone can give it to others as per requirements.

It is difficult to divide and inherit such properties. You also need to undergo more legal actions to inherit these.

Security type

When it comes to security, one can pledge these properties. The security level is therefore not high.

These properties can be kept as a mortgage in terms of security. It is a higher form of security.

What Are the Different Types of Movable Properties?

What Are the Different Types of Immovable Properties?

What Are the Rights Associated With Movable and Immovable Property?

Now that you know the differences between the two, you should know about the rights affiliated with movable and immovable property. These are listed in the following table.

Movable property

Immovable property

Right of warship

Right to collect the rent of immovable properties

Government promissory notes

Right of ferry

Decree of sale of a mortgaged property

Right of way

Right of royalty

Right of fishery

Right to recover maintenance allowance of movable properties

Right to receive future rents and profits of the land

Right to purchase property for registration

Right to collect lace from the trees

Therefore, as you can see, there are some major differences between movable and immovable property. As this article pointed out, you must have proper knowledge and ideas about these two types of properties if you are planning to purchase or inherit these. It will help you avoid legal complications in future.

[Source]

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