Real property or real estate is land and everything that is permanently attached or affixed to the land—buildings, fences, and those things attached to the buildings, such as light fixtures and plumbing and heating fixtures.
Real property includes the legal rights of ownership—such as the rights to possess, sell, use, lease, and enjoy the land. The terms real property and real estate are generally synonymous.
Land is generally defined as the earth’s surface, extending downward to the center of the earth and upward to infinity—including everything that is permanently attached by nature, such as trees and water. Land includes minerals below the earth’s surface and airspace above the land.
Real property is often classified and referenced according to its use as residential, commercial, industrial, agricultural, or special purpose property. Real property is generally contrasted with personal property, which includes all movable, tangible things that are not real property.
In Minnesota, real property, also known as real estate, encompasses land and any permanent structures or attachments, such as buildings, fences, and permanent fixtures. The legal rights associated with real property include the right to possess, sell, lease, use, and enjoy the property. The definition of land extends to the earth's surface and below, as well as the airspace above, including natural attachments like trees and bodies of water, as well as subsurface minerals. Real property can be categorized based on its use, such as residential, commercial, industrial, agricultural, or special purpose. This classification can affect zoning, taxation, and regulatory requirements. In contrast, personal property refers to movable items that are not considered part of real estate. Minnesota state statutes and federal laws govern the transfer, use, and legal claims on real property, and these laws are designed to protect the rights of owners and other parties with legal interests in the property. An attorney specializing in real estate law can provide specific guidance on these matters, ensuring compliance with all relevant regulations and statutes.