Which of the following is NOT a characteristic of real property?

Real property is characterized by several key features that define its nature and function within the real estate market. Among these characteristics, permanence refers to the long-lasting nature of land and buildings; economic immobility underscores that real estate cannot be moved from one location to another, affecting its value based on its situation; and transferability emphasizes that property rights can be transferred from one party to another, allowing for sales, gifts, or inheritance.

Adaptability, while an important aspect of a property's usefulness and functionality, is not a fundamental characteristic of real property itself. Instead, it refers to how a property can be modified or adjusted for different uses over time, reflecting a property’s versatility rather than being inherent to real estate as a fundamental quality.

Therefore, in the context of defining the essential characteristics of real property, adaptability stands out as the characteristic that does not belong to the core definitions typically associated with real estate.