"Real Property" for Dummies...me included

Have you heard the term "real property"? Is that, like the opposite of "pretend" property? Fairytale land, imaginary land....

I personally think that term is very confusing and the person who thought of it should be kicked. However, in buying or selling a house, understanding that term is imperative. Grasping this definition can save you time, money, and stress. The dictionary defines 'real property' as:

real property n. 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.

So...let me break it down in real life. A screwed in shelf is "real property". A shelf leaning against a wall is not. A ceiling fan is "real property", a lamp is not. A rose bush planted in the ground is "real property", and one in a pot on the deck is not. Hold on...it gets weirder. However, you'll have to read my next blogs to find out :)