Real propertyis property that includes land and buildings, and anything affixed to the land. For a business, real property would include warehouses, factories, offices, and other buildings owned by the business. Real property only includes those structures that are affixed to the land, not those which can be removed, such as equipment.
Real property may also be determined to include:
- Whatever is beneath the surface of the land, like minerals, natural gas, and oil
- Rights to the use of property
- Leasehold improvements (since they cannot be removed
Real property is distinguished from personal property, which is other property owned by a business or individual, including equipment, furniture and fixtures.

