Definition: Real property includes land, permanent improvements, and the legal rights and interests associated with them. Those rights can include possession, use, exclusion, and transfer, subject to legal limits.
Example
An owner holds a house and lot with the right to use or transfer the property. A utility may also hold an easement across part of that land.
Keep the distinction clear
Real property is more than the physical building. Different people can hold different interests in the same land, and ownership does not eliminate valid easements, leases, or land-use restrictions.
Related terms
Real Estate · Title · Fee Simple Estate · Easement
Keep studying
DEEP C: The Bundle of Property Rights Explained
References: Cornell LII: Real property
Pronunciation (US): REE-uhl PRAH-per-tee (capitals show stress)
Pronunciation reference: Merriam-Webster
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