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Wednesday, February 13, 2008

Real Estate

Real estate is a legal term (in some jurisdictions, notably in the USA) that encompasses land along with anything permanently affixed to the land, such as buildings, specifically property that is stationary, or fixed in location.[1] Real estate is often considered synonymous with real property (also sometimes called realty), in contrast with personal property (also sometimes called chattel or personalty). However, in some situations the term "real estate" refers to the land and fixtures together, as distinguished from "real property," referring to ownership rights of the land itself.

The terms real estate and real property are used primarily in common law, while civil law jurisdictions refer instead to immovable property.

1 comment:

Unknown said...

Good explanation on Real Estate word. I was in banking line for more than 2 years under Mortgage and not aware of this.

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