Canada v. Larsen, 99 DTC 5757 (FCA) -- summary under Paragraph (a)

The taxpayer and his three siblings gave a lumber company the right to enter their land to remove timber during a five-month period for consideration of $70 per cubic metre of timber removed. Noël J.A. found (at p. 5760) that "the right to remove timber by severance is, at the time of the grant, an incorporeal hereditament in land which as such constitutes real property" and indicated that there is no requirement in the definition of qualified real property that the standing timber would be used at the time of grant in farming.