What is an essential characteristic of "real property"?

The essential characteristic of "real property" is that it encompasses not only the land itself but also the rights associated with the land, which include any improvements made to it. Improvements can consist of buildings, structures, or other modifications that enhance the value or usability of the property. This definition is fundamental in real estate because it distinguishes real property from personal property, which generally refers to movable items not permanently affixed to the land.

This characteristic emphasizes the significance of both the physical attributes of the land and the legal rights that come with ownership, such as the right to use, lease, sell, or otherwise manage the property. Understanding this distinction is crucial for anyone involved in real estate transactions or property ownership, as it influences valuation, leasing agreements, and property rights.