real_estate
Table of Contents
Real Estate
Real estate is land and anything permanently attached to the land, including natural and man-made improvements.
Key Characteristics
- Includes land, improvements, and appurtenances
- Is immovable
- Considered real property when combined with ownership rights
- Distinguished from personal property
Components of Real Estate
- 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 vs Real Property
- Real Estate
- Physical land and attachments
- Real Property
- Real estate plus the bundle of legal rights
The Bundle of Rights
- Possession
- Control
- Enjoyment
- Exclusion
- Disposition
Exam Tip
- Real estate is physical
- Real property includes ownership rights
real_estate.txt · Last modified: by reidjs