Real estate

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In general use, esp. North American, ‘real estate’ is taken to mean “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 in some jurisdictions, such as the United Kingdom, Canada, Australia, United States of America, Dubai, Trinidad and Tobago, Barbados, and The Bahamas. ‘Real Estate Law’ is the body of regulations and legal codes which pertain to such matters under a particular jurisdiction and include things such as commercial and residential property ownership, development and transactions. Real estate is often considered synonymous with real property (sometimes called realty), in contrast with personal property (sometimes called ‘chattels’ or ‘personalty’ under ‘chattel law’ or ‘personal property law’). The terms ‘real estate’ and ‘real property’ are used primarily in common law, while civil law jurisdictions refer instead to immovable property. However, in some situations the term ‘real estate’ refers to the land and fixtures thereon together, as distinguished from ‘real property’, referring to the ownership of land and its appurtenances, including anything of a permanent nature such as structures, trees, minerals, and the interest, benefits, and inherent rights thereof. Real property is typically considered to be immovable property.

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