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Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings.
Real estate is often considered synonymous with real property (also sometimes called realty), in contrast with personal property, chattel, or
personality. However, for technical purposes, some people prefer to distinguish real estate, referring to the land and fixtures themselves, from real property, referring to ownership rights over real estate. The terms real estate and real property are used primarily in common law, while civil law jurisdictions refer instead to immovable property.
(see
Legal Kits)
In spite of the name, real estate has no connection with the concept of reality (in other words, the law does not consider real property more "real" than personal property). It derives instead from the feudal principle that in a monarchy, all land was considered the property of the king. Thus originally the term real estate was equivalent to "royal estate", real originating from the French royale, as it was the French-speaking Normans who introduced feudalism to England and thus to the English language; cognate to Spanish real.
With the development of private property ownership, real estate has become a major area of business. Purchasing real estate requires a significant investment, and each parcel of land has unique characteristics, so the real estate industry has evolved into several distinct fields. Specialists are often called on to valuate real estate and facilitate transactions. Some kinds of real estate businesses include:
* Appraisal - Professional valuation services
* Brokerages - Assisting buyers and sellers in transactions
* Development - Improving land for use by adding or replacing buildings
* Property management - Managing a property for its owner(s)
* Relocation services - Relocating people or business to different country
Within each field, a business may specialize in a particular type of real estate, such as residential, commercial, or industrial property. In addition, almost all construction business effectively has a connection to real estate.
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Real Estate News
• Thomas Flatley, Hub Real Estate Icon, Dies At 76 Boston Globe
Thomas J. Flatley, a frugal immigrant who arrived from Ireland with 32 in his pocket and built a commercial real estate empire in Greater Boston and beyond that was estimated at 1.3 billion, died early yesterday morning.
• Real Estate Bonuses May Get Scrutiny The Charlotte Observer
N.C. regulators, reversing course, have called a special meeting later this month to address a proposed rule that would ensure homebuyers are aware of their real estate agents financial interests in selling a home. The nine member N.C. Real Estate Commission had voted Wednesday to table the proposal, which required real estate agents to provide written disclosure of bonuses and other extra
• Sorouh Real Estate PJSC Acquires Strategic Shareholding In LLJ Property LLC A...
Sorouh Real Estate PJSC, one of Abu Dhabis leading real estate developers, today announced the acquisition of a strategic shareholding in LLJ Property LLC, the major Abu Dhabi based real estate agency.
• REAL ESTATE NOTES Richmond TimesDispatch
NEW FACES Nicole Politi has joined Elite Real Estate as a sales associate. Long Foster reports the following new agents: Susan Withrow with Virginia Properties. Amanda Thomas with the Tuckahoe office. Erin Barton with the Village of Midlothian office. Linda Greenlaw and Kathryn LeBey with the Grove Avenue office.
• Commercial Real Estate To Retain Favorable Position In Down Market Commercial...
More pain is in store for the U.S. economy in the coming months, but the commercial real estate market is generally expected to endure less of it, according to economists speaking at the National Association of Real Estate Editors 42nd annual real estate journalism conference in Dallas this morning.
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inaccuracies. For legal advice you should
consult a licensed attorney. Source: wikipedia.org
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