Real property means land, including the soil on the surface of the earth and all the water on or below the surface. It usually also includes any oil, gas, or minerals beneath the surface. Even the airspace above the surface of a plot of land is real property. Real property also includes buildings, fixtures, plant life, and vegetation. The method for transferring ownership in real property is through a deed. Types of real property ownership include fee simple absolute, fee simple defeasible, and life estates.
At A Glance
Real property consists of land, buildings, plant life on the land, and fixtures on the property.
Buildings may take many forms, including houses, offices, apartment complexes, and factories.
- A fixture is attached to real property, and a reasonable person would consider it a permanent part of a property. A chattel is something that might be attached to the property, but which can be removed without causing damage to the property.