Real Property Characteristics, Legal Descriptions, and Property Use

Land is the earth's surface extending down to the center of the earth and up into the air, plus natural things permanently attached such as trees and water.

Real estate is land plus all man-made improvements permanently attached to it, such as buildings, fences, and utilities.

Real property is real estate plus the interests, benefits, and rights that come with ownership (the bundle of rights).

Possession, control, enjoyment, exclusion, and disposition. An owner can hold all of them or transfer some (for example, possession to a tenant).

Personal property is anything owned that is not real property, typically movable items; it is also called chattels or personalty.

A fixture is an item that was once personal property but has been attached to or adapted for real property so that it is legally treated as part of the real estate.