Which of the following describes real property?

Real property refers to land and anything permanently attached to it. This typically includes the land itself as well as any structures that are considered permanent, such as homes, offices, or other buildings. Therefore, the option that states "land with permanent buildings thereon" accurately encapsulates the definition of real property.

When defining real property, it's essential to understand the permanence aspect—this distinguishes real property from other types of property such as personal belongings or chattel, which are considered movable and not permanently affixed to land. In contrast to the other options, which focus on either solely the land without any buildings, or items that can be easily relocated, the correct answer encompasses both the land and the structures that enhance its value and usability. This understanding is fundamental in real estate and auction practices, where understanding the difference between types of property is crucial for transactions and agreements.