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Real Property |
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real property: see property property, rights to the enjoyment of things of economic value, whether the enjoyment is exclusive or shared, present or prospective. The rightful possession of such rights is called ownership.
..... Click the link for more information. . real property Land, everything growing on it, and all improvements made to it. It usually includes rights to everything beneath the surface, and at least some rights to the airspace above it. Real Property in law, tracts of land and the various capital structures and installations erected thereon. Real property was recognized under prerevolutionary Russian law and has major significance under the legislation of the present-day bourgeois states, where rights to real property are publicly established and transactions involving real property, particularly land, must meet certain legal requirements. Under Soviet law, property need not be classified as either movable or immovable because land, the main component of real property, is under the sole ownership of the state. Private transactions that involve land are accordingly prohibited. The special legal status that is established for land and its mineral wealth, waters, forests, structures, and installations is conditioned by the economic importance these objects possess. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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