Real Estate Property

A Real Estate Property is a property composed of legal land (including natural resource and land improvements)

• AKA: Immovable Property, Real Property.
• Context:
  • It can (often) be associated to Real Estate Contracts.
  • It can (often) be levied an Annual Real-Estate Property Tax.
  • ...
  • It can range from being a Raw Land Property to being a Fully-Developed Property, depending on improvement level
  • It can range from being a Single-Use Property to being a Mixed-Use Property, depending on permitted activities
  • It can range from being a Private Property to being a Public Property, depending on ownership type
  • ...
  • It can include both tangible components (land, buildings) and intangible components (rights, air rights)
  • It can be subject to various property rights including ownership, leasehold, and easements
  • It can be improved through buildings, infrastructure, and other permanent structures
  • It can contain natural resources such as minerals, water, and timber
  • It can be regulated by zoning laws, building codes, and environmental regulations
  • It can be transferred through sale, lease, or inheritance
  • …
• Example(s):
  • Residential Real Estate Property, such as: single-family homes, apartment buildings, and condominiums
  • Commercial Real Estate Property, such as: office buildings, retail centers, and industrial facilities
  • Agricultural Real Estate Property, such as: farms, ranches, and orchards
  • Special Use Real Estate Property, such as: churches, schools, and government buildings
  • ...
• Counter-Example(s):
  • Personal Property, such as: vehicles, furniture, and equipment
  • Intellectual Property, such as: patents, copyrights, and trademarks
  • Movable Property, such as: mobile homes (before permanent foundation)
  • Temporary Structures, such as: construction trailers and portable buildings
• See: Property Law, Real Estate, Land Use, Property Rights, Real Estate Development, Real Estate Transaction, Property, Civil Law (Legal System), Estate Agent.

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References

2016

• (City Council of Barnstable, 2016b) ⇒ Town of Barnstable. (2016). “Town of Barnstable Adopted Operating Budget - 2017."
  • QUOTE: Real property: Land, buildings and the rights and benefits inherent in owning them.

2015

• (Wikipedia, 2015) ⇒ http://en.wikipedia.org/wiki/real_property Retrieved:2015-12-7.
  • In English common law, real property, real estate, realty, or immovable property is any subset of land that has been legally defined and the improvements to it have been made by human efforts: buildings, machinery, wells, dams, ponds, mines, canals, roads, etc. Real property and personal property are the two main subunits of property in English common law.

    In countries with personal ownership of real property, civil law protects the status of real property in real-estate markets, where estate agents work in the market of buying and selling real estate. Scottish civil law calls real property "heritable property", and in French-based law, it is called immobilier ("immovable property").

2014

• (Wikipedia, 2014) ⇒ http://en.wikipedia.org/wiki/real_estate Retrieved:2014-11-7.
  • Real estate is "property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; (also) an item of real property; (more generally) buildings or housing in general. Also: the business of real estate; the profession of buying, selling, or renting land, buildings or housing."

    It is a legal term used in jurisdictions such as the United States, United Kingdom, Canada, Nigeria, Australia, and New Zealand.

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