Modular homes are constructed off-site in sections and then transported to the final location for assembly. Upon completion and once placed on a permanent foundation, these homes transition into real property. This designation recognizes the modular home as permanently affixed to the land, thus it becomes part of the real estate. Real property includes land and anything permanently attached to it, such as buildings and structures.
Personal property, by contrast, refers to movable items, such as furniture, vehicles, or other possessions that are not permanently attached to the land. Commercial property typically involves properties used for business purposes, while mixed-use properties combine residential, commercial, and sometimes industrial components. The classification of modular homes as real property is crucial for various legal and financial reasons, including taxation, financing, and property rights.