Which of the following best defines real property?

Real property is best defined as encompassing land and all the rights associated with it, extending from the surface to the center of the Earth and upward into space. This definition captures the entirety of what real property entails, including not just the physical land but also any improvements, such as buildings, and the rights associated with owning that land. In many jurisdictions, real property ownership includes the right to use, lease, or sell the land, as well as the rights to any resources found below the surface, such as minerals, and often includes air rights above the land.

The other options limit the definition of real property in various ways. Considering only the buildings on a parcel of land does not encompass the legal rights associated with the land itself, nor does it recognize the importance of land as a whole. Describing real property solely as vacant land excludes significant aspects such as developed properties or the rights that exist regardless of whether the land is improved. Lastly, focusing on property that is leased for commercial use presents a narrower view that excludes unleased properties, or those that might be used for residential purposes, thereby not accounting for the full scope of real property definitions.