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real property
real property n (Law) immovable property, esp land and buildings, including proprietary rights over land, such as mineral rights. Also called: real estate Compare personal property re′al prop′erty
n. property consisting of lands, buildings, mineral rights, and the like (disting. from personal property). real propertyLands, buildings, structures, utilities systems, improvements, and appurtenances thereto. Includes equipment attached to and made part of buildings and structures (such as heating systems) but not movable equipment (such as plant equipment).Thesaurus| Noun | 1. |  real property - property consisting of houses and landimmovable, real estate, realtybelongings, property, holding - something owned; any tangible or intangible possession that is owned by someone; "that hat is my property"; "he is a man of property";acres, demesne, landed estate, estate, land - extensive landed property (especially in the country) retained by the owner for his own use; "the family owned a large estate on Long Island"land - the land on which real estate is located; "he built the house on land leased from the city"dead hand, mortmain - real property held inalienably (as by an ecclesiastical corporation) |
real property
real property: see propertyproperty,
rights to the enjoyment of things of economic value, whether the enjoyment is exclusive or shared, present or prospective. The rightful possession of such rights is called ownership.
..... Click the link for more information. .Real propertyLand with or without buildings, fences and other features. Also called real estate.Real Property in law, tracts of land and the various capital structures and installations erected thereon. Real property was recognized under prerevolutionary Russian law and has major significance under the legislation of the present-day bourgeois states, where rights to real property are publicly established and transactions involving real property, particularly land, must meet certain legal requirements. Under Soviet law, property need not be classified as either movable or immovable because land, the main component of real property, is under the sole ownership of the state. Private transactions that involve land are accordingly prohibited. The special legal status that is established for land and its mineral wealth, waters, forests, structures, and installations is conditioned by the economic importance these objects possess. real propertyLand, everything growing on it, and all improvements made to it. It usually includes rights to everything beneath the surface, and at least some rights to the airspace above it.real property
Related to real property: Real Property Taxreal propertyn. 1) all land, structures, firmly attached and integrated equipment (such as light fixtures or a well pump), anything growing on the land, and all "interests" in the property which may be the right to future ownership (remainder), right to occupy for a period of time (tenancy or life estate) the right to drill for oil, the right to get the property back (a reversion) if it is no longer used for its current purpose (such as use for a hospital, school or city hall), use of airspace (condominium) or an easement across another's property. Real property should be thought of as a group of rights like a bundle of sticks which can be divided. It is distinguished from the other type of property, personal property, which is made up of movable items. 2) one of the principal areas of law like contracts, negligence, probate, family law and criminal law. (See: real estate, personal property, reversion, life estate, condominium, easement) real property tangible landed property or incorporeal hereditament.REAL PROPERTY, That which consists of land, and of all rights and profits arising from and annexed to land, of a permanent, immovable nature. In order to make one's interest in land, real estate, it must be an interest not less than for the party's life, because a term of years, even for a thousand years, perpetually renewable, is a mere personal estate. 3 Russ. R. 376. It is usually comprised under the words lands, tenements, and hereditaments. Real property is corporeal, or incorporeal.
2. Corporeal consists wholly of substantial, permanent objects, which may all be comprehended under the general denomination of land. There are some chattels which are so annexed to the inheritance, that they are deemed a part of it, and are called heir looms. (q.v.) Money agreed or directed to be laid out in land is considered as real estate. Newl. on Contr. chap. 3; Fonb. Eq. B. 1, c. 6, Sec. 9; 3 Wheat. Rep. 577.
3. Incorporeal property, consists of certain inheritable rights, which are not, strictly speaking, of a corporeal nature, or land, although they are by their own nature or by use, annexed to corporeal inheritances, and are rights issuing out of them, or which concern them. These distinctions agree with the civil law. Just. Inst. 2, 2; Poth. Traite de la Communaute, part 1, c. 2, art. 1. The incorporeal hereditaments which subsist by the laws of the several states are fewer than those recognized by the English law. In the United States, there are fortunately no advowsons, tithes, nor dignities, as inheritances.
4. The most common incorporeal hereditaments, are, 1. Commons. 2. Ways. 3. Offices. 4. Franchises. 5. Rents. For authorities of what is real or personal property, see 8 Com. Dig. 564; 1 Vern. Rep. by Raithby, 4, n.; 2 Kent, Com. 277; 3 Id. 331; 4 Watts' R. 341; Bac. Ab. Executors, H 3; 1 Mass. Dig. 394; 5 Mass. R. 419, and the references under the article Personal property, (q.v.) and Property. (q.v.)
5. The principal distinctions between real and personal property, are the following: 1. Real property is of a permanent and immovable nature, and the owner has an estate therein at least for life. 2. It descends from the ancestor to the heir instead of becoming the property of an executor or administrator on the death of the owner, as in case of personalty. 3. In case of alienation, it must in general be made by deed, 5 B. & C. 221, and in presenti by the common law; whereas leases for years may commence in futuro, and personal chattels may be transferred by parol or delivery. 4. Real estate when devised, is subject to the widow's dower personal estate can be given away by will discharged of any claim of the widow.
6. These are some interests arising out of, or connected with real property, which in some respects partake of the qualities of personally; as, for example, heir looms, title deeds, which, though in themselves movable, yet relating to land descend from ancestor to heir, or from a vendor to a purchaser. 4 Bin. 106.
7. It is a maxim in equity, that things to be done will be considered as done, and vice versa. According to this doctrine money or goods will be considered as real property, and land will be treated as personal property. Money directed by a will to be laid out in land is, in equity, considered as land, and will pass by the words "lands, tenements, and hereditaments whatsoever and wheresoever." 3 Bro. C. C. 99; 1 Tho. Co. Litt. 219, n. T. real property
Real propertyLand plus all other property that is in some way attached to the land.Real EstateLand and the improvements on it. Real estate is one of the primary (and indeed one of the only) assets whose value does not depreciate over time. Depending on the particular title, ownership of real estate may include mineral rights to any geophysical aspects occurring thereon. Ownership of real estate does not automatically include the right to develop it, depending on local regulations. However, development of real estate (for example by building a house on it) usually increases the value. While supply of real estate does not vary, demand may change greatly depending on its particular features, number of people in the area, and cultural differences regarding land ownership. It is an attractive form of collateral because it cannot be stolen or destroyed. See also: Plot, zoning law.real property See real estate.Real property.Real property is what's more commonly known as real estate, or realty. A piece of real property includes the actual land as well as any buildings or other structures built on the land, the plant life, and anything that's permanently in the ground below it or the air above it. In that sense, real property is different from personal property, which you can move from place to place with you. real propertySee property. Real PropertyAlso known as real estate, includes land, buildings, and their structural components.real property
Related to real property: Real Property TaxSynonyms for real propertynoun property consisting of houses and landSynonyms- immovable
- real estate
- realty
Related Words- belongings
- property
- holding
- acres
- demesne
- landed estate
- estate
- land
- dead hand
- mortmain
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