Final answer:
The correct term for personal property that has become permanently attached to real property is a 'fixture'. This includes items that are meant to be a permanent part of the property, while other terms like bailment, security interest, and license refer to different legal concepts.
Step-by-step explanation:
An item of personal property that has become permanently attached to real property so as to merge its identity with the real property and become a part of the real property is known as a fixture.
A fixture is a legal concept that indicates that an item, once movable, has been affixed to real property in such a way that it becomes a part and parcel of the property. This includes items like built-in bookcases, plumbing fixtures, or any attachments that are made with the intention of being permanent.
Bailment refers to the legal relationship in which physical possession of personal property is transferred from one party to another. A security interest is an interest in personal property or fixtures which secures payment or performance of an obligation, while a license grants permission to use another person's property without creating an interest in the property.
Therefore, among the options provided, 'Fixture' is the correct term to describe personal property that has been permanently attached to real property.