Which of the following is true about real property?

The assertion that real property includes all real property and appurtenances is accurate because it encompasses not just the land itself but also everything permanently attached to it. This definition extends to structures such as buildings, fences, and other fixtures that are deemed part of the real estate. Furthermore, appurtenances refer to any rights, privileges, or improvements that are associated with the property, such as easements or rights of way that enhance the use and value of the land. This comprehensive understanding is crucial in property law and taxation contexts, as it clarifies what is included in assessments and transactions.

In contrast, the other options are limited in scope and fail to account for the broad definition of real property. For instance, stating that it includes only land overlooks the significant aspects of buildings and other fixtures that contribute to a property's overall value. Similarly, claiming that it does not include buildings is incorrect as buildings are a fundamental part of what constitutes real property. Lastly, suggesting that it is only residential property is misleading, as real property encompasses various types of land use, including commercial, industrial, and agricultural properties, in addition to residential real estate. Understanding these distinctions is essential for effective property management and taxation.