Explanation:

- Option 1: Right of fishery

This means the right to catch fish in a specific water body. It is a "profit à prendre," an actionable right, not an immovable property.

- Option 2: Life time interest in immovable property

This refers to an interest in land or things attached to earth. Clearly, immovable property.

- Option 3: Grass

When grass is growing, it is part of the land (immovable). But when it is severed from the earth for sale, it becomes movable.

- Option 4: Right to collect lac from trees

Like fishery, it is a "profit à prendre" and considered a benefit arising out of land, thus immovable property.

Option 3: Grass is the correct answer as grass, when severed, is movable property.