(1) Income derived by a resident of a Contracting State from immovable property
(including income from agriculture or forestry) situated in the other Contracting State
may be taxed in that other State.
(2) The term ”immovable property” shall have the meaning which it has under the law of
the Contracting State in which the property in question is situated. The term shall in any
case include property accessory to immovable property‚ livestock and equipment used in
agriculture and forestry‚ rights to which the provisions of general law respecting landed
property apply‚ usufruct of immovable property and rights to variable or fixed payments
as consideration for the working of‚ or the right to work‚ mineral deposits‚ sources and
other natural resources. Ships and aircraft shall not be regarded as immovable property.