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 New Mexico (NM), real property, also known as real estate, encompasses land and any structures or fixtures permanently attached to it, such as buildings, fences, and built-in appliances. The legal rights associated with real property include the ability to possess, sell, lease, use, and enjoy the property. Land itself is defined expansively, from the center of the earth to the airspace above, and includes natural attachments like trees and bodies of water, as well as subsurface minerals. Real property is categorized based on its use, with common classifications being residential, commercial, industrial, agricultural, and special purpose. This categorization can affect zoning, taxation, and regulatory matters. In contrast, personal property refers to movable items that are not considered part of real estate. New Mexico's real estate laws are codified in the New Mexico Statutes Annotated (NMSA) and are supplemented by regulations at the county and municipal levels, which can govern local zoning and land use. It's important for property owners and prospective buyers to understand these laws and regulations, as they can significantly impact property rights and usage. An attorney specializing in real estate law can provide guidance specific to New Mexico's legal framework.