Real Estate

Real estate is land and anything permanently attached to the land, including natural and man-made improvements.

• Includes land, improvements, and appurtenances
• Is immovable
• Considered real property when combined with ownership rights
• Distinguished from personal property

• Land
  • Surface, subsurface, and airspace
  • Natural attachments (trees, minerals, water)

• Improvements
  • Man-made additions such as buildings, fences, roads

• Appurtenances
  • Rights that run with the land
  • Examples: easements, water rights

• Real Estate
  • Physical land and attachments

• Real Property
  • Real estate plus the bundle of legal rights

• Possession
• Control
• Enjoyment
• Exclusion
• Disposition

• Real estate is physical
• Real property includes ownership rights