real property


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Related to real property: Real Property Tax

real property:

see propertyproperty,
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.
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Real property

Land with or without buildings, fences and other features. Also called real estate.

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.

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.
References in periodicals archive ?
The outputs of the Real Property Assets Accountability project are establishment of mature processes for (1) managing real property portfolios for financial reporting, (2) tracking and reporting real property assets against defined goals and objectives to facilitate management's decisions, and (3) monitoring established internal controls to ensure they continue to perform as designed.
On appeal, the board argued that the manufactured home should not have been appraised as real property before the motor vehicle title was surrendered.
* A direct interest in real property (i.e., land, buildings, mines, wells, crops, or timber) located in the U.S.; and
In North Carolina, contractors who contract directly with an owner of real property to perform work or furnish materials to improve real property are entitled to claim a lien upon real property.
PTMS 3.4 provides a variety of options for determining fair market value for real property. Commercially available data on an unlimited number of comparable properties ("comps") can be linked to a parcel, allowing the user to compare and analyze property values on a per-unit basis--such as building value in dollars per square foot, land value in dollars per acre, etc.
Gross assessed value of real property rose by $13 billion or 127 percent.
In re Raborn, a recent bankruptcy case interpreting [section] 689.07, held that because the deed conveying the real property at issue was not recorded and did not name the beneficiaries of the trust or state the purpose of the trust, that the deed to Raborn, as trustee of the trust, conveyed a fee simple interest in the real property to trustee individually.
Constitution, the personal property tax rates were lowered so they are equal with the real property tax rates, he said.
Most Federal agencies restrict the initiation of forfeiture of real property to instances where a substantial connection between the property and a felony violation can be established.
Such reforms in the real property tax system constitute the third package of the Duterte administration's comprehensive tax reform program.
Indeed, the Government Accountability Office has had real property management on its High Risk List since 2003.
The Department of Finance (DOF) is pushing for reforms in the country's real property valuation system to generate additional revenues for local government units (LGUs) and attract more investments in the country.

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