Real Property means one, several, or all interests,
benefits, and rights inherent in the ownership of a parcel of land or water.
(a) A parcel includes (unless limited by its legal
description) the air space above it, the ground below it, and anything
physically and firmly attached to it by a natural process or human action
(b) A parcel may also have rights attached to it by a
legally prescribed procedure.
The legal classification of an interest, benefit, or
right depends on its attributes rather than the name assigned to it.
Full - Fee Interest (Fee Simple) – maximum rights
Partial Interest – anything less than maximum
Ownership Interests – right to use/occupy/exclude
others
Public Interests – rights of government over real
property
Physical Interests – air, surface, subsurface rights
