Which property type includes all lands, man-made improvements, anything growing on the lands, as well as interests, or "rights," including future occupancy, reversion, and the use of surface and air space?
Real property includes land, improvements attached to land, natural things growing on land, and legal rights connected with the land. Those rights can include possession, occupancy, access, air rights, surface rights, mineral rights, reversions, easements, and other interests. Personal property refers to movable property not permanently attached to land. Tangible property is physical property, but the question includes legal rights and interests, making “real” the better classification. Intangible property involves rights without physical form, such as contract rights or intellectual property, and does not capture the full land-and-improvements concept. This is a Real Property topic because the Pennsylvania title outline specifically tests the definition and types of real property, interests in land, legal descriptions, and insurable estates.
Contribute your Thoughts:
Chosen Answer:
This is a voting comment (?). You can switch to a simple comment. It is better to Upvote an existing comment if you don't have anything to add.
Submit