What does "real property" refer to?

"Real property" refers specifically to land and anything permanently affixed to it, which includes buildings, structures, and other improvements that are attached to the land. This concept is foundational in real estate, as it distinguishes real property from personal property. In real estate terminology, "affixed" means that the items are attached in a way that they cannot be removed without altering the property.

This definition encompasses various types of developments and enables a clear understanding of the rights and interests associated with ownership. For example, a house built on a plot of land is considered part of the real property, as are any other improvements such as a garage or a swimming pool.

In contrast, the other options reflect a misunderstanding of the breadth of real property. For instance, the notion that real property is only land without improvements ignores the significant aspect of affixed structures that is central to how real estate is categorized and valued. Additionally, classifying real property as personal property or strictly as investment property mischaracterizes it, as real property has a specific legal definition that does not limit its use or ownership to investment scenarios. Thus, the notion that real property is solely that which is used for investment is also inaccurate.