What constitutes an 'interest' in real property?

An 'interest' in real property encompasses a legal right or claim to the property, which can include ownership, possession, or various rights over a portion of the property. This definition captures the essence of what it means to hold an interest, as it relates directly to the rights and privileges one has in relation to that property. These interests can take many forms, such as freehold interests, leasehold interests, or easements.

The other choices do not align with the definition of an 'interest' in real property. A financial assessment pertains to determining the property's market value rather than the rights associated with it. Annual taxation represents a fiscal obligation rather than an ownership or claim right. A formal offer to purchase does not mean that a person has acquired any rights until the transaction is completed; therefore, it is not considered an interest in the property itself.