Real Property

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DEFINITION of 'Real Property'

Any property that is attached directly to land, as well as the land itself. Real property not only includes buildings and other structures, but also rights and interests. Real property can be either rental or residential.

INVESTOPEDIA EXPLAINS 'Real Property'

Any structures or improvements that are attached to the land must not be movable in order to be considered real property. Natural resources such as oil, gas and timber also qualify, because they are considered to be part of the land.

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    The difference between market value and economic value is that the former represents the minimum amount the customer is willing ... Read Full Answer >>
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