Real property refers to land and anything permanently attached to it, including natural features (like trees and water) and man-made structures (such as buildings, fences, and roads)
. It also encompasses the bundle of ownership rights associated with the land and its attachments, which include the rights to possess, control, enjoy, exclude others from, and dispose of the property
. Key points about real property:
- It includes the physical land and all permanent improvements or fixtures on it, such as buildings and utilities
- It differs from personal property, which consists of movable items like vehicles, furniture, and clothing
- Real property is broader than real estate because it includes not only the physical assets but also the legal rights of ownership and use
- Ownership rights can include mineral rights, water rights, and other interests that may be sold separately from the land itself
- Understanding real property is important in transactions like buying or leasing land or buildings because it defines what exactly is owned or controlled
In summary, real property is land plus permanent attachments and the legal rights that come with ownership of that land and its improvements
