Immovable property
Encyclopedia
Immovable property is an immovable object
, an item of property
that cannot be moved without destroying or altering it - property that is fixed to the Earth, such as land or a house. In the United States
it is also commercially and legally known as real estate
and in Britain
as property
. It is known by other terms in other countries of the world.
Immovable property includes premises, and property rights (for example, inheritable building right), houses, land and associated goods and chattels if they are located on, or below, or have a fixed address. It is delimited by geographic coordinates or by reference to local landmarks, depending on the jurisdiction.
In much of the world's civil law
systems (based as they are on Romano-Germanic law, which is also known as Civil law or Continental law), immovable property is the equivalent of "real property
"; it is land or any permanent feature or structure above or below the surface.
To describe it in more detail, immovable property includes land, buildings, hereditary allowances, rights to way, lights, ferries, fisheries or any other benefit which arises out of land, and things attached to the earth or permanently fastened to anything which is attached to the earth. It does not include standing timber, growing crops, nor grass. It includes the right to collect rent, life interest in the income of the immovable property, a right of way, a fishery, or a lease of land.
Other sources describe immovable property as "any land or any building or part of a building, and includes, where any land or any building or part of a building is to be transferred together with any machinery, plant, furniture, fittings or other things, such machinery, plant, furniture, fittings and other things also. Any rights in or with respect to any land or any building or part of building (whether or not including any machinery, plant, furniture, fittings or other things therein) which has been constructed or which is to be constructed, accruing or arising from any transaction (whether by way of becoming a member of, or acquiring shares in, a co-operative society, or other association of persons or by way of any agreement or any arrangement of whatever nature, not being a transaction by way of sale, exchange or lease of such land, building or part of a building."
Immovable property cannot be altered or remodeled, added to, or reconstructed without entering into an agreement with and getting permission from its owner. Construction, alteration, and demolition may also be subject to government regulation, such as the need to obey zoning laws and obtain building permits.
Also, a property or an object, which can be moved by destroying it would be considered a "destructible property" rather than an "immovable property".
Irresistible force paradox
The Irresistible force paradox, also the unstoppable force paradox, is a classic paradox formulated as "What happens when an unstoppable force meets an immovable object?" This paradox is a form of the omnipotence paradox, which is a simple demonstration that challenges omnipotence:...
, an item of property
Property
Property is any physical or intangible entity that is owned by a person or jointly by a group of people or a legal entity like a corporation...
that cannot be moved without destroying or altering it - property that is fixed to the Earth, such as land or a house. In the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
it is also commercially and legally known as real estate
Real estate
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; an item of real property; buildings or...
and in Britain
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
as property
Property
Property is any physical or intangible entity that is owned by a person or jointly by a group of people or a legal entity like a corporation...
. It is known by other terms in other countries of the world.
Immovable property includes premises, and property rights (for example, inheritable building right), houses, land and associated goods and chattels if they are located on, or below, or have a fixed address. It is delimited by geographic coordinates or by reference to local landmarks, depending on the jurisdiction.
In much of the world's civil law
Civil law (legal system)
Civil law is a legal system inspired by Roman law and whose primary feature is that laws are codified into collections, as compared to common law systems that gives great precedential weight to common law on the principle that it is unfair to treat similar facts differently on different...
systems (based as they are on Romano-Germanic law, which is also known as Civil law or Continental law), immovable property is the equivalent of "real property
Real property
In English Common Law, real property, real estate, realty, or immovable property is any subset of land that has been legally defined and the improvements to it made by human efforts: any buildings, machinery, wells, dams, ponds, mines, canals, roads, various property rights, and so forth...
"; it is land or any permanent feature or structure above or below the surface.
To describe it in more detail, immovable property includes land, buildings, hereditary allowances, rights to way, lights, ferries, fisheries or any other benefit which arises out of land, and things attached to the earth or permanently fastened to anything which is attached to the earth. It does not include standing timber, growing crops, nor grass. It includes the right to collect rent, life interest in the income of the immovable property, a right of way, a fishery, or a lease of land.
Other sources describe immovable property as "any land or any building or part of a building, and includes, where any land or any building or part of a building is to be transferred together with any machinery, plant, furniture, fittings or other things, such machinery, plant, furniture, fittings and other things also. Any rights in or with respect to any land or any building or part of building (whether or not including any machinery, plant, furniture, fittings or other things therein) which has been constructed or which is to be constructed, accruing or arising from any transaction (whether by way of becoming a member of, or acquiring shares in, a co-operative society, or other association of persons or by way of any agreement or any arrangement of whatever nature, not being a transaction by way of sale, exchange or lease of such land, building or part of a building."
Immovable property cannot be altered or remodeled, added to, or reconstructed without entering into an agreement with and getting permission from its owner. Construction, alteration, and demolition may also be subject to government regulation, such as the need to obey zoning laws and obtain building permits.
Also, a property or an object, which can be moved by destroying it would be considered a "destructible property" rather than an "immovable property".
Translations
- Afrikaans: onroerende goed
- Arabic: الممتلكات غير المنقولة
- Bengali: স্তাবর
- Bulgarian: Недвижими имоти / НСНИ /
- Chinese: 不動產
- Croatian: nekretnine, nepokretna imovina
- Czech: nemovitý majetek
- Danish: fast ejendom
- Dutch: onroerend goed
- Finnish: kiinteä omaisuus
- French: immobilier; biens immobiliers
- German: Immobilien
- Greek: Ακίνητη Ιδιοκτησία
- Italian: immobili; beni immobili
- Japanese: 不動産
- Korean: 부동산
- Lithuanian: nekilnojamas turtas; nekilnojamasis turtas; nejudamas turtas
- Latvian: nekustamie īpašumi
- Norwegian: fast eiendom
- Persian: مال غیرمنقول
- Polish: nieruchomość
- Portuguese: imóveis; imóvel
- Romanian: imobiliare; bunuri imobiliare
- Russian: Недвижимое имущество
- Serbian: nekretnine/некретнине, nepokretnosti/непокретности, nepokretna imovina/непокретна имовина
- Slovak: nehnuteľný majetok
- Slovenian: nepremičnine, nepremična lastnina
- Spanish: immueble; bienes immuebles
- Swedish: fast egendom
- Turkish: taşınmaz (mal); gayrimenkul
External links
- Movable and immovable property
- Non-Resident Indians (NRI) in Immovable Property
- Property rights in China: New property law (2007)
- Income from Immovable Property (Canada)
- 2007 Louisiana State Senate - Property - Regular Session Highlights
- FAQ - Louisiana DOR
- New Japan - U.K. Tax Treaty
- Peace Treaty of Versailles
- The Export-Import Bank of Korea
- State of Louisiana - CIVIL DISTRICT COURT FOR THE PARISH OF ORLEANS - NOTICE TO SELL MOVABLE OR IMMOVABLE PROPERTY AT PRIVATE SALE
- - IMMOVABLE PROPERTY AND THE BUDGET (South Africa)
- Moscow’s property lawlessness
- (Thai) Act on the Lease of Immovable Property for Commercial and Industrial Purposes (Thailand)
- Synopsis of French inheritance law