Which of the following is NOT a physical component of real property?

Timber rights are not classified as a physical component of real property; rather, they are considered an intangible property right related to the ownership and use of the timber on the land. This distinction is essential because physical components, such as land, buildings, and fixtures, are tangible assets that can be seen and touched.

Land encompasses the ground itself, including the minerals and natural resources beneath it, while buildings refer to any structures erected on the land. Fixtures are items that were once personal property but have been attached to the land or a building in such a way that they become part of the real property.

In contrast, timber rights allow a property owner to harvest and sell timber but do not represent the timber itself in its physical form. Understanding these distinctions is important in real estate, particularly in transactions and property valuation, where both physical and intangible components can impact ownership and use rights.