Real Property

Real property refers to land and anything permanently attached to it, including buildings, structures, and improvements. It also encompasses the legal rights associated with ownership, such as the right to use, lease, sell, or exclude others from the property.

In commercial real estate, distinguishing real property from personal property (chattel) is important for tax assessments, financing, and transaction structuring. Real property interests can be divided into various forms, including fee simple ownership, leasehold interests, and easements.