What term refers to the physical and sometimes intangible benefits associated with land?

The correct term that refers to the physical and sometimes intangible benefits associated with land is appurtenances. In real estate, appurtenances are rights, privileges, and improvements that are attached to the land and transfer with it when the property is sold. This includes things like water rights, easements, and any structures or modifications that enhance the land's value and usability.

Appurtenances are essential because they emphasize the additional value that comes with owning a piece of land, beyond just the land itself. This can include both tangible items, such as buildings or other physical structures, and intangible benefits, such as rights of way or access rights. Understanding the concept of appurtenances is crucial for real estate professionals, as it influences property valuation and the rights of both buyers and sellers in a transaction.

Other choices like structures refer specifically to buildings or improvements on the land, fixtures denote items that are permanently attached to the property, and assets encompass a broader range of economic resources that can include both tangible and intangible items but do not specifically convey the special connection to benefits tied to land ownership.