Real Property

Definition - What does Real Property mean?

Real property is a specific piece of land that is owned by a party. This ownership includes any structures on the land such as any wells, any minerals in the soil, and the rights to any interests that the land provides such as the right to drill for oil. It is the complete ownership of all that the property provides.

Justipedia explains Real Property

Real property is an important distinction from land alone. The reason is because land often comes with existing structures, or desirable contents in the soil, or airspace above it. So, in order to properly establish ownership of everything that a property includes along with the land, a term is needed besides just "land." Real property fills this purpose. So, a person who owns the real property not only owns the land, but everything that comes along with it.

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