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The distinction between these types of property is significant for a variety of reasons. Usually one's rights on movables are more attenuated than one's rights on immovables (or real property). The statutes of limitations or prescriptive period s are usually shorter when dealing with personal or movable property. Real property rights usually are enforceable for a much longer period of time and in most jurisdictions real estate and immovables are registered in government-sanctioned land registers. In some jurisdictions rights can be registered against personal or movable property.
In the common law it is possible to place a mortgage upon real property. Such mortage requires payment or the owner of the mortgage can seek foreclosure. Personal property can often be secured with similar kind of device called a security interest . There is no similar institution to the mortgage in the civil law, however a hypothec is a device to secure real right s against property. These real rights follow the property along with the ownership. In the common law a lien also remains on the property and it is not extinguished by alienation of the property; liens may be real or equitable.