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 Iowa, real property, also known as real estate, encompasses land and any structures or fixtures permanently attached to it, such as buildings and fences. This includes the rights associated with ownership, like the ability to possess, sell, lease, use, and enjoy the property. The definition of land in Iowa extends to the space below the earth's surface, which may contain minerals, and the airspace above. Real property can be categorized based on its use, such as residential, commercial, industrial, agricultural, or special purpose. This is distinct from personal property, which refers to movable items that are not considered part of the real estate. Iowa's real estate laws regulate various aspects of property ownership, including zoning, land use, property taxes, and the transfer of property, which are governed by state statutes and local ordinances. When dealing with real property matters in Iowa, it is advisable to consult with an attorney who specializes in real estate law to ensure compliance with all applicable regulations and to protect one's legal rights.