either and or or, according to what is meant: personal and/or real property
See and/or in American Heritage Dictionary 4
(ănˈdôrˈ)
conjunction
Used to indicate that either or both of the items connected by it are involved.
Usage Note: And/or is widely used in legal and business writing. Its use in general writing to mean “one or the other or both” is acceptable but can appear stilted. See Usage Note at or1.