What is defined as "real property"?

The definition of "real property" encompasses land and everything that is permanently attached to it, which includes buildings, structures, and fixtures. This definition is foundational in real estate law and distinguishes real property from personal property. Real property is immovable and therefore encompasses not just the physical land but also the enhancements made to that land, such as houses and other structures. This permanence is a key characteristic of real property, as it contrasts with personal property, which encompasses movable items that are not permanently affixed to a location.

Understanding this distinction is critical for real estate professionals, as it affects property rights, transactions, taxes, and the legal implications associated with property ownership. Personal property, such as stocks, bonds, or movable items, does not fall under the category of real property because of its transient nature. Additionally, defining real property solely as the physical buildings would overlook the essential component of the land itself, along with the legal rights associated with ownership of that land.