Business and Personal Finance Dictionary

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• REAL PROPERTY
  
  Informally used to refer to land or buildings. As defined by Federal banking regulations governing appraisals, real property is: an identified parcel or tract of land including improvements, easements, rights of way, undivided or future interests, and similar rights but excluding mineral rights, timber rights, or growing crops. Note that under state law in many states, growing crops, timber, and minerals that have not been separated from the land are also included in the definition of real property.
  
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