Real estate

Real estate

Overview
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
Law
Law is a system of rules and guidelines which are enforced through social institutions to govern behavior, wherever possible. It shapes politics, economics and society in numerous ways and serves as a social mediator of relations between people. Contract law regulates everything from buying a bus...

 term in some jurisdictions, such as the United Kingdom
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...

, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...

, Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...

, United States of America, Dubai
Dubai
Dubai is a city and emirate in the United Arab Emirates . The emirate is located south of the Persian Gulf on the Arabian Peninsula and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi...

, Trinidad and Tobago
Trinidad and Tobago
Trinidad and Tobago officially the Republic of Trinidad and Tobago is an archipelagic state in the southern Caribbean, lying just off the coast of northeastern Venezuela and south of Grenada in the Lesser Antilles...

, Barbados
Barbados
Barbados is an island country in the Lesser Antilles. It is in length and as much as in width, amounting to . It is situated in the western area of the North Atlantic and 100 kilometres east of the Windward Islands and the Caribbean Sea; therein, it is about east of the islands of Saint...

, and The Bahamas
The Bahamas
The Bahamas , officially the Commonwealth of the Bahamas, is a nation consisting of 29 islands, 661 cays, and 2,387 islets . It is located in the Atlantic Ocean north of Cuba and Hispaniola , northwest of the Turks and Caicos Islands, and southeast of the United States...

. name="real">"Real estate" The American Heritage Dictionary of the English Language, Fourth Edition. Houghton Mifflin Company, 2004.
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Encyclopedia
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
Law
Law is a system of rules and guidelines which are enforced through social institutions to govern behavior, wherever possible. It shapes politics, economics and society in numerous ways and serves as a social mediator of relations between people. Contract law regulates everything from buying a bus...

 term in some jurisdictions, such as the United Kingdom
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...

, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...

, Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...

, United States of America, Dubai
Dubai
Dubai is a city and emirate in the United Arab Emirates . The emirate is located south of the Persian Gulf on the Arabian Peninsula and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi...

, Trinidad and Tobago
Trinidad and Tobago
Trinidad and Tobago officially the Republic of Trinidad and Tobago is an archipelagic state in the southern Caribbean, lying just off the coast of northeastern Venezuela and south of Grenada in the Lesser Antilles...

, Barbados
Barbados
Barbados is an island country in the Lesser Antilles. It is in length and as much as in width, amounting to . It is situated in the western area of the North Atlantic and 100 kilometres east of the Windward Islands and the Caribbean Sea; therein, it is about east of the islands of Saint...

, and The Bahamas
The Bahamas
The Bahamas , officially the Commonwealth of the Bahamas, is a nation consisting of 29 islands, 661 cays, and 2,387 islets . It is located in the Atlantic Ocean north of Cuba and Hispaniola , northwest of the Turks and Caicos Islands, and southeast of the United States...

. name="real">"Real estate" The American Heritage Dictionary of the English Language, Fourth Edition. Houghton Mifflin Company, 2004. Dictionary.com Retrieved July 12, 2008 'Real Estate Law' is the body of regulations and legal codes which pertain to such matters under a particular jurisdiction
Jurisdiction
Jurisdiction is the practical authority granted to a formally constituted legal body or to a political leader to deal with and make pronouncements on legal matters and, by implication, to administer justice within a defined area of responsibility...

 and include things such as commercial and residential property ownership, development and transactions. Real estate is often considered synonymous with 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...

 (sometimes called realty), in contrast with personal property
Personal property
Personal property, roughly speaking, is private property that is moveable, as opposed to real property or real estate. In the common law systems personal property may also be called chattels or personalty. In the civil law systems personal property is often called movable property or movables - any...

 (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
Common law
Common law is law developed by judges through decisions of courts and similar tribunals rather than through legislative statutes or executive branch action...

, while 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...

 jurisdiction
Jurisdiction
Jurisdiction is the practical authority granted to a formally constituted legal body or to a political leader to deal with and make pronouncements on legal matters and, by implication, to administer justice within a defined area of responsibility...

s refer instead to immovable property
Immovable property
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...

. However, in some situations the term 'real estate' refers to the land and fixtures thereon together, as distinguished from '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...

', referring to the ownership of land and its appurtenance
Appurtenance
Appurtenances is a term for what belongs to and goes with something else, with the appurtenance being less significant than what it belongs to. The word ultimately derives from Latin appertinere, "to appertain"....

s, including anything of a permanent nature such as structures, trees, minerals, and the interest, benefits, and inherent rights thereof. 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...

 is typically considered to be immovable property
Immovable property
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...

.

Etymology


In the laws of the United States of America, the 'real' in 'real estate' means relating to a thing (res/'rei', thing, from O.Fr. 'reel', from L.L. 'realis' 'actual', from Latin. 'res', 'matter, thing'), as distinguished from a person. Thus the law broadly distinguishes between 'real' property (land and anything affixed to it) and 'personal' property or chattels (everything else, e.g., clothing, furniture, money). The conceptual difference was between 'immovable property', which would transfer title along with the land, and 'movable property', which a person could lawfully take and would retain title to on disposal of the land.

The oldest document using a term recognizable as 'real estate' in historical records is dated 1605. This use of 'real' also reflects the ancient feudal
Feudalism
Feudalism was a set of legal and military customs in medieval Europe that flourished between the 9th and 15th centuries, which, broadly defined, was a system for ordering society around relationships derived from the holding of land in exchange for service or labour.Although derived from the...

 customs in relation to land
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...

 and the ownership (and owners) thereof, introduced into England over 500 years earlier, by William the Conqueror in 1066.

Some people have claimed that the word 'real' in this sense is descended (like French 'royal' and Spanish 'real') from the Latin word for 'king'. In the feudal system
Feudalism
Feudalism was a set of legal and military customs in medieval Europe that flourished between the 9th and 15th centuries, which, broadly defined, was a system for ordering society around relationships derived from the holding of land in exchange for service or labour.Although derived from the...

 (which has left many traces in the common law
Common law
Common law is law developed by judges through decisions of courts and similar tribunals rather than through legislative statutes or executive branch action...

) the king was the owner of all land, and everyone who occupied land paid him rent directly or indirectly (through lords who in turn paid the king), in cash, goods, or services (including military service). Property tax
Property tax
A property tax is an ad valorem levy on the value of property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state or a municipality...

, paid to the state, can be seen as a relic of that system, as too is the term fee simple
Fee simple
In English law, a fee simple is an estate in land, a form of freehold ownership. It is the most common way that real estate is owned in common law countries, and is ordinarily the most complete ownership interest that can be had in real property short of allodial title, which is often reserved...

. Some say this derivation is a misconception; name="real_dif">"Real" "The American Heritage Dictionary of the English Language, Fourth Edition." Houghton Mifflin Company, 2004. Dictionary.com Retrieved July 12, 2008 but that is countered by evidence that the earliest meaning of 'real' in English included "Of, relating to, or characteristic of a monarch, royalty, or (by extension) the nobility, esp. with regard to power, wealth, or dignity; (also) befitting a monarch."

Additionally, there is evidence that the earliest meaning of 'real' in English included "Having an objective existence; actually existing physically as a thing, substantial; not imaginary." which supports the statement in the first paragraph of this section on the Etymology of the term 'real estate' that 'real' = 'relating to a thing…as distinguished from a person'. However, it needs to be borne in mind that the time between the Norman Conquest and the earliest recorded documentary appearance of 'real estate' allowed for both meanings of the word 'real' to gain common currency in verbal and written use in England, as individual words; and for the term 'real estate' to gain common currency in verbal and written use with the word 'real' in it having the same meanings, or, one, or even more, different meanings, to when it was used on its own; but of which there is no specific, historical documentary evidence.

On that basis, the reason for these several possible meanings of 'real' in relation to 'real estate' may have been that not all of England and Wales became 'real estate' in the 'royal' sense by reason only of the Norman Conquest. The Domesday Book
Domesday Book
Domesday Book , now held at The National Archives, Kew, Richmond upon Thames in South West London, is the record of the great survey of much of England and parts of Wales completed in 1086...

 provides evidence that some holdings of land in England and Wales remained in the hands of people, who were not the king. In other words, they were allodial land
Allodial title
Allodial title constitutes ownership of real property that is independent of any superior landlord, but it should not be confused with anarchy as the owner of allodial land is not independent of his sovereign...

. Two main classes of that allodial land are distinguishable, by inference and synthesis, from, the Domesday Book; the passage and enforcement of the Act of Supremacy
Acts of Supremacy
The first Act of Supremacy was a piece of legislation that granted King Henry VIII of England Royal Supremacy, which means that he was declared the supreme head of the Church of England. It is still the legal authority of the Sovereign of the United Kingdom...

 1534 and Laws in Wales Acts 1535-1542
Laws in Wales Acts 1535-1542
The Laws in Wales Acts 1535 and 1542 were parliamentary measures by which the legal system of Wales was annexed to England and the norms of English administration introduced. The intention was to create a single state and a single legal jurisdiction; frequently referred to as England and Wales...

 by Henry VIII of England
Henry VIII of England
Henry VIII was King of England from 21 April 1509 until his death. He was Lord, and later King, of Ireland, as well as continuing the nominal claim by the English monarchs to the Kingdom of France...

; Welsh Law
Welsh law
Welsh law was the system of law practised in Wales before the 16th century. According to tradition it was first codified by Hywel Dda during the period between 942 and 950 when he was king of most of Wales; as such it is usually called Cyfraith Hywel, the Law of Hywel, in Welsh...

 prior to 1535; and the history of Probate
Probate
Probate is the legal process of administering the estate of a deceased person by resolving all claims and distributing the deceased person's property under the valid will. A probate court decides the validity of a testator's will...

 in England and Wales; namely, that of the Roman Catholic Church, and that of the parts of Wales where the custom known as 'dadunnedd' under Welsh Law
Welsh law
Welsh law was the system of law practised in Wales before the 16th century. According to tradition it was first codified by Hywel Dda during the period between 942 and 950 when he was king of most of Wales; as such it is usually called Cyfraith Hywel, the Law of Hywel, in Welsh...

 applied.

Another etymological consequence of those radical measures by Henry VIII was that the expression 'real estate' became an official English expression, and the English 'law of real estate' became the official real estate law of England and Wales, because the Laws in Wales Acts 1535-1542
Laws in Wales Acts 1535-1542
The Laws in Wales Acts 1535 and 1542 were parliamentary measures by which the legal system of Wales was annexed to England and the norms of English administration introduced. The intention was to create a single state and a single legal jurisdiction; frequently referred to as England and Wales...

 included clauses requiring that, upon the day appointed by the statute, and thereafter, no law or language other than those of England shall be used in the courts of England and Wales. This meant that the laws of the Roman Catholic Church and of the former Welsh kings were eradicated from use throughout England and Wales. The clauses concerning language were repealed by Elizabeth II in 1993, to facilitate use of minority languages in the courts of England and Wales as the populations of those nations had by then become multi-cultural, because those clauses infringed the human rights
Human rights
Human rights are "commonly understood as inalienable fundamental rights to which a person is inherently entitled simply because she or he is a human being." Human rights are thus conceived as universal and egalitarian . These rights may exist as natural rights or as legal rights, in both national...

 of the people that spoke them.

English Real Estate Law recognises rights of way, etc., on land beyond the limits of the subject land, including rights of passage and repassage over other lands, including such parts of those other lands between the high and low water marks of tidal waters adjoinging them, for use by the king of the subject land and his servants and assigns for the purposes of travel and transportation, subject to the rule, 'All that the king has is the right of passage and repassage for himself and his subjects.' Such rights of passage and repassage were known as the 'King's Highways', or, as nowadays, the 'Queen's Highways', depending on the gender of the monarch, and have a history in England stretching back to at least the year 859 of the modern era and at least the C14th in Wales, though there is evidence that it was much earlier than both.

Such antiquity and the origins and purposes of the Law of Hywel Dda, and of its supposed blessing by the Pope, strongly suggests that the concept of 'the King's Highways' in law may have originated in the days of the Roman Empire after Christianity became its official religion, and that the 'king' in 'King's Highways' meant the Son of God, in his capacity as the 'King of Kings', and that it meant all of the earth above sea level apart from the rivers and lakes on it, because, as Christianity believes, he can walk on water, and that 'real estate' originally meant all of the earth and all objects and life on and in it, as that is what Christianity believes to be his inheritance. It is evidence from the period of the Crusades
Crusades
The Crusades were a series of religious wars, blessed by the Pope and the Catholic Church with the main goal of restoring Christian access to the holy places in and near Jerusalem...

 in Europe that pilgrims, adherents, servants and soldiers of the Roman Catholic Church had similar rights throughout over most, if not all, of that continent, and of parts of the Middle East and North Africa, which again suggests that they originated in the days of the Roman Empire after Christianity became its official religion and originally meant all of that land, not just narrow strips of it.

So, the land designated in law over which such travel and transportation rights of passage and repassage for a king and his subjects existed could be a candidate for the 'real' in 'real estate' meaning 'relating to a thing, distinguished from a person', the 'thing' being the lawful entitlement 'title' of the king and his subjects to the use and enjoyment of those rights of passage and repassage. But the term 'highways
Highway
A highway is any public road. In American English, the term is common and almost always designates major roads. In British English, the term designates any road open to the public. Any interconnected set of highways can be variously referred to as a "highway system", a "highway network", or a...

' is the lawful name of such strips of land in Britain. The earliest legal document containing a word that is recognizably 'highway' was the one in the year 859 mentioned above.

Though frequently used in official documents, such as property deeds and court records in England for many centuries in common law, the first statutory law of highways was the Highways Act 1555
Highways Act 1555
The Highways Act 1555 , sometimes the First Statute of Highways, was an Act of Parliament of the Parliament of England passed in 1555...

 by Elizabeth I of England
Elizabeth I of England
Elizabeth I was queen regnant of England and Ireland from 17 November 1558 until her death. Sometimes called The Virgin Queen, Gloriana, or Good Queen Bess, Elizabeth was the fifth and last monarch of the Tudor dynasty...

, the second daughter of Henry VIII, who sought to rectify the confusion that her sister, Mary I of England
Mary I of England
Mary I was queen regnant of England and Ireland from July 1553 until her death.She was the only surviving child born of the ill-fated marriage of Henry VIII and his first wife Catherine of Aragon. Her younger half-brother, Edward VI, succeeded Henry in 1547...

, caused by attempting to reinstate the status of the Roman Catholic Church in England and Wales because she became a Roman Catholic in order to marry Philip of Spain
Philip of Spain
Philip of Spain is the name of several Spanish monarchs:* Philip I of Castile or Philip I of Spain * Philip II of Spain * Philip III of Spain * Philip IV of Spain * Philip V of Spain...

. Until then, with only one exception, namely the Statute of Bridges, the law of highways in England and Wales had relied solely upon the common law of England (and before 1535, on the separate common law of those two nations, hence Henry VIII's need to eradicate the common law of Wales on 1535).

The reign of Elizabeth I is particularly noteworthy as the start of the growth and development of the British Empire beyond the shores of Great Britain; and, the word 'highway
Highway
A highway is any public road. In American English, the term is common and almost always designates major roads. In British English, the term designates any road open to the public. Any interconnected set of highways can be variously referred to as a "highway system", a "highway network", or a...

' became common currency wherever English was spoken in those parts of the world. Vast tracts of land became regarded as highways in these new territories where wide, open space was common, such as the routes of pony-express riders, wagon trains, cattle droves and gold miners in North America, and, where settlement occurred, roads and streets were formed by the inhabitants under the provisions of the Highways Acts 1555
Highways Act 1555
The Highways Act 1555 , sometimes the First Statute of Highways, was an Act of Parliament of the Parliament of England passed in 1555...

 and 1562
Highways Act 1562
The Highways Act 1562 , sometimes the Second Statute of Highways, was an Act of Parliament of the Parliament of England passed in 1563...

, and, any immigrant allowed access to those parts of the world via their borders became regarded as subjects of the Crown of Great Britain for the duration of such visa granted by the border authority, and thus entitled to the use and enjoyment of those highways, roads and streets.

Great Britain retained such rights of passage and repassage for the Sovereign Head of Great Britain and its subjects for the purposes of travel and transportation in, over and across land comprising its former territory overseas when those lands became independent of Great Britain, by declaring them highways before they were awarded independence, such as in the British territories that became independent of Britain in the United States of America due to the American Revolutionary War
American Revolutionary War
The American Revolutionary War , the American War of Independence, or simply the Revolutionary War, began as a war between the Kingdom of Great Britain and thirteen British colonies in North America, and ended in a global war between several European great powers.The war was the result of the...

 and Peace of Paris (1783)
Peace of Paris (1783)
The Peace of Paris was the set of treaties which ended the American Revolutionary War. On 3 September 1783, representatives of King George III of Great Britain signed a treaty in Paris with representatives of the United States of America—commonly known as the Treaty of Paris —and two treaties at...

.

According to the Wikipedia article on allodial land, there is no longer any allodial land in England and Wales. Therefore, it follows that all of England and Wales is now 'real estate' in the 'royal' sense, and Great Britain no longer has any need to retain any currency for the 'relating to a thing, distinguished from a person' sense in Britain except as an academic interest in the history of the land law of Britain, and only to ensure currency of the 'highway' sense in the territories outside Great Britain, such as its former colonies in the United States of America.

The need for departure from the 'royal' sense of 'real estate' in the United States of America sprang from the British Crown's abandonment of any claims to its territories in the United States of America by the Treaty of Paris, 1783; but, events that had happened in England and Wales since the Fall of the Roman Empire had consequences in the United States of America both before and after its former British territories acquired independence from Britain, to this day, which are worthy of note in the context of the meaning, protection and assertion of the 'real estate' of Great Britain throughout the world, but in the United States of America in particular.

The connection between king and church throughout history since Christianity became the official religion of the Roman Empire
Roman Empire
The Roman Empire was the post-Republican period of the ancient Roman civilization, characterised by an autocratic form of government and large territorial holdings in Europe and around the Mediterranean....

 is the reason for those consequences. Whilst Christianity believes that God can be and is everywhere at once throughout the universe, it is not physically possible for a king to be everywhere at once on all parts of his kingdom and throughout the rest of the world to superintend all of the 'real estate' in the 'royal' sense, of all of the property and rights of passage and repassage entrusted to him until, as Christianity believes, the 'king of kings', in the form of the resurrected Son of God, returns to reclaim God's kingdom on earth and rule over it.

The Roman solution to this dilemma had been typically organisational: partitioning its empire into divisions and appointing suitably qualified and trusted persons for the purpose of superintending those divisions and the development of settlements, roads, bridges, etc. within them, under a pyramidal heirarchy of governance reaching up to the emperor himself, similar to many other empires, states, and nations in the history of world civilization, be they monarchical
Monarch
A monarch is the person who heads a monarchy. This is a form of government in which a state or polity is ruled or controlled by an individual who typically inherits the throne by birth and occasionally rules for life or until abdication...

, democratic
Democracy
Democracy is generally defined as a form of government in which all adult citizens have an equal say in the decisions that affect their lives. Ideally, this includes equal participation in the proposal, development and passage of legislation into law...

, republican
Republic
A republic is a form of government in which the people, or some significant portion of them, have supreme control over the government and where offices of state are elected or chosen by elected people. In modern times, a common simplified definition of a republic is a government where the head of...

 or communist.

This challenged the remaining occupants of the abandoned divisions when the Roman organisation model collapsed on the demise of its Empire, hence the emergence of kings ('king' from Old English 'cyning', 'cynig'; 'cynn' meaning 'race'; Old Welsh 'cynog', Old Saxon 'kuning') to superintend and govern so much of the former Roman Empire as they were able to acquire by agreement or by conquest, or as much of it as fell to them by election or by inheritance, on behalf of God, under the pyramidal organisational umbrella of the Roman Catholic Church headed by the Pope.

Some believe there is evidence that these kings may have claimed, or have been attributed to be, direct descendents of the Son of God from his visit to earth in human form at the time of the Roman Empire in Europe, the Middle East and North Africa (see The Holy Blood and The Holy Grail
The Holy Blood and the Holy Grail
The Holy Blood and the Holy Grail is a book by Michael Baigent, Richard Leigh, and Henry Lincoln....

), hence the 'royal blood line' which Henry VIII claimed to have, by direct lineage via the claim of his father, Henry VII, the first of the Tudor dynasty, to be descended from Rhodri Mawr, the first king of Wales, via Hywel Dda; which he regarded as giving him divine authority to set up the Church of England and confiscate all the property of the Roman Catholic Church in both England and Wales, which the Pope did not prevent, even by force, which suggests that he thought too. So, even in late Medieval times, regal minds were still centred on the emergence of kings on and after the demise of the Roman Empire to govern the territories they acquired and what were those kings' claims to kingship.

The dilemma that a king could not be everywhere at once on his kingdom and all the earth to superintend the 'real estate' interests he had a duty of God to assert and protect, was solved in England and, subsequently, Wales, Scotland, Ireland, the English Channel Islands, the British colonies and the rest of the world, by the king of England chartering and commissioning civilian and military personnel, called esquires
Esquire
Esquire is a term of West European origin . Depending on the country, the term has different meanings...

, specifically for the task, appointed under sworn oath to assert and protect the works and highways interests of the English crown on those territories, and the tradition continues to this day,under the Queen of Great Britain and its Territories, Elizabeth II of England. The etymological origins of the title Esquire
Esquire
Esquire is a term of West European origin . Depending on the country, the term has different meanings...

 and its cognate Squire
Squire
The English word squire is a shortened version of the word Esquire, from the Old French , itself derived from the Late Latin , in medieval or Old English a scutifer. The Classical Latin equivalent was , "arms bearer"...

 attest to its antiquity.

During the massive expansion of British territory into the British Empire
British Empire
The British Empire comprised the dominions, colonies, protectorates, mandates and other territories ruled or administered by the United Kingdom. It originated with the overseas colonies and trading posts established by England in the late 16th and early 17th centuries. At its height, it was the...

 that began in the late C16th, there had to be a consequential increase in the number of thus qualified people to assert and protect the 'real estate' comprising the new territory, and, because the title had no protection under common or statutory law from being used by persons who were not royally entitled to use it, people who were not awardered the title by the Crown Head of Great Britain, or authorised to award the title by the Crown of the Great Britain, assumed the title unto themselves and awarded it to others who were also not so royally entitled, even their children, including foreign nationals relative to Britain, to give them the appearance of being qualified by the British Crown. In time, even the Palace administration began addressing letters using the subnominal title or its abbreviated form regardless of whether the addressees had been so chartered and commissioned, giving the addressees that had not been so chartered and commissioned the appearance of also having been professionary qualified by the British Crown.

Consequently, the long-standing merit of the title, of certifying that the background, physical and mental health, education, training, experience, commitment, morality and loyalty of the person entitled to use it had been examined and found suitable by the Crown to assert and protect its real estate interests at home or abroad, was undermined.

For example, the Parish Tithe Maps and Schedules of England and Wales produced under the Tithe Commutation Act 1836
Tithe Commutation Act 1836
The Tithe Commutation Act of 1836 was an Act of the Parliament of the United Kingdom with the long title "An Act for the Commutation of Tithes in England and Wales". It replaced the ancient system of payment of tithes in kind with monetary payments...

 included many entries with the abbreviated postnomial title 'Esq.' written after the names of respective property holders, whereas the enumerators books for the 1841 population census of the United Kingdom, at about the same time as the Parish Tithe Maps and Schedules were being published, contained instructions to enumerators, including, with regard to the "Names" column, "Insert without distinction or omission, every living person who abode or slept in each house...The words "Lord", "Lady", "Sir", "Rt. Hon.", "Hon." may be put before the names to whom they belong." and with regard to the column headed "Profession, Trade, Employment, or Of Independent Means", "Rank, or any such term as "Esq." or "Gentleman" must not be entered in this column." Effectively this meant the terms "Esquire" and "Esq." were expressly excluded from the census.

Nevertheless, any misuse of any title can be deemed to be supporting evidence of fraud, if the object of its being so used is proven to have been wilfully intended to deceive for the purposes of fraud. The Wikipedia article on Esquire
Esquire
Esquire is a term of West European origin . Depending on the country, the term has different meanings...

 contains references to use of that title in the United States of America by persons qualified to practice law in the United States of America, of which references 3 and 10 are of particular interest in the above regard.

Real estate as "real property" in the U.K.


In British
British English
British English, or English , is the broad term used to distinguish the forms of the English language used in the United Kingdom from forms used elsewhere...

 usage, "real property", often shortened to just "property", generally refers to land and fixtures, while the term "real estate" is used mostly in the context of probate
Probate
Probate is the legal process of administering the estate of a deceased person by resolving all claims and distributing the deceased person's property under the valid will. A probate court decides the validity of a testator's will...

 law, and means all interests in land held by a deceased person at death
Death
Death is the permanent termination of the biological functions that sustain a living organism. Phenomena which commonly bring about death include old age, predation, malnutrition, disease, and accidents or trauma resulting in terminal injury....

, excluding interests in money
Money
Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past,...

 arising under a trust for sale of or charged on land. As one main object of "probate" is to "prove" title to the real estate interests in the property held by a deceased person at the time of death, and the earliest recorded use the word in this capacity is 1463, it is reasonable to assume this tradition dates back to the death of the first owner of the 'allodial land' referred in the Etymology section above to die.

See 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...

 for a definition and Estate agent
Estate agent
An estate agent is a person or business that arranges the selling, renting or management of properties, and other buildings, in the United Kingdom and Ireland. An agent that specialises in renting is often called a letting or management agent...

 for a description of the practice in the UK.

Real estate in Mexico and Central America


The real estate businesses in Mexico,Canada,Guam and Central America are different from the way that they are conducted in the United States.

Some similarities include a variety of legal formalities (with professionals such as real estate agents generally employed to assist the buyer); taxes need to be paid (but typically less than those in U.S.); legal paperwork will ensure title; and a neutral party such as a title company will handle documentation and money to make the smooth exchange between the parties. Increasingly, U.S. title companies are doing work for U.S. buyers in Mexico and Central America.

Prices are often much cheaper than most areas of the U.S., but in many locations, prices of houses and lots are as expensive as the U.S., one example being Mexico City. U.S. banks have begun to give home loans for properties in Mexico, but, so far, not for other Latin American countries.

One important difference from the United States is that each country has rules regarding where foreigners can buy. For example, in Mexico, foreigners cannot buy land or homes within 50 km (31 mi) of the coast or 100 km (62 mi) from a border unless they hold title in a Mexican Corporation or a Fideicomiso (a Mexican trust). In Honduras, however, they may buy beach front property directly in their name. There are different rules regarding certain types of property: ejidal land communally held farm property can only be sold after a lengthy entitlement process, but that does not prevent them from being offered for sale.

In Costa Rica
Costa Rica
Costa Rica , officially the Republic of Costa Rica is a multilingual, multiethnic and multicultural country in Central America, bordered by Nicaragua to the north, Panama to the southeast, the Pacific Ocean to the west and the Caribbean Sea to the east....

, real estate agents do not need a license to operate, but the transfer of property requires a lawyer.
In Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...

, real estate agents do not need a license to operate, but the transfer of property requires a notary public.

Business sector



With the development of private 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...

 ownership
Ownership
Ownership is the state or fact of exclusive rights and control over property, which may be an object, land/real estate or intellectual property. Ownership involves multiple rights, collectively referred to as title, which may be separated and held by different parties. The concept of ownership has...

, real estate has become a major area of business
Business
A business is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit...

, commonly referred to as commercial real estate. 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
    Real estate appraisal
    Real estate appraisal, property valuation or land valuation is the process of valuing real property. The value usually sought is the property's Market Value. Appraisals are needed because compared to, say, corporate stock, real estate transactions occur very infrequently...

    : Professional valuation services
  • Brokerages
    Real estate broker
    A real estate broker, real estate agent or realtor is a party who acts as an intermediary between sellers and buyers of real estate/real property and attempts to find sellers who wish to sell and buyers who wish to buy...

    : A mediator who charges a fee to facilitate a real estate transaction between the two parties.
  • Development
    Real estate development
    Real estate development, or Property Development, is a multifaceted business, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of improved land or parcels to others...

    : Improving land for use by adding or replacing buildings
  • Net leasing
    Net lease
    In commercial real estate, a net lease requires the tenant to pay, in addition to rent, some or all of the property expenses which normally would be paid by the property owner...

  • Property management
    Property management
    Property management is the operation, control of ususally on behalf of an owner, and oversight of commercial, industrial or residential real estate as used in its most broad terms. Management indicates a need to be cared for, monitored and accountability given for its usable life and condition...

    : Managing a property for its owner(s)
  • Real estate marketing: Managing the sales side of the property business
  • Real estate investing
    Real estate investing
    Real estate investing involves the purchase, ownership, management, rental and/or sale of real estate for profit. Improvement of realty property as part of a real estate investment strategy is generally considered to be a sub-specialty of real estate investing called real estate development...

    : Managing the investment of real estate
  • Relocation services
    Relocation services
    Relocation services or employee relocation include a range of internal business processes to transfer employees, their families, and/or entire departments of a business to a new location. Like other types of employee benefits, these processes are usually administered by human resources specialists...

    : Relocating people or business to a different country
  • Corporate Real Estate
    Corporate Real Estate
    Corporate real estate is a term used to describe the real property held or used by a business enterprise or organization for its own operational purposes...

    : Managing the real estate held by a corporation to support its core business—unlike managing the real estate held by an investor to generate income


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
Construction
In the fields of architecture and civil engineering, construction is a process that consists of the building or assembling of infrastructure. Far from being a single activity, large scale construction is a feat of human multitasking...

 business effectively has a connection to real estate.

Professional university-level education in real estate is primarily focused at the graduate level. Focus in towards the commercial real estate sector, primarily real estate development or investment rather than residential real estate sales conducted by a REALTOR.

See also graduate real estate education
Graduate real estate education
The study of real estate and real estate development at the graduate school level has taken many forms, giving rise to various educational models in the United States and abroad...

 for a discussion and list of university-level real estate programs.


"Internet real estate
Internet real estate
Internet real estate is a term used to describe the online promotion of commercial and residentialreal estate or the ownership of revenue-producing online properties such as domain names or websites. The term Internet Estate Realty or Domain Real Estate are also used.-External links:**...

" is a term coined by the internet investment community relating to ownership of domain names and the similarities between high quality internet domain names and real-world, prime real estate.

Residential real estate


The legal arrangement for the right to occupy a dwelling in some countries is known as the housing tenure
Housing tenure
Housing tenure refers to the financial arrangements under which someone has the right to live in a house or apartment. The most frequent forms are tenancy, in which rent is paid to a landlord, and owner occupancy. Mixed forms of tenure are also possible....

. Types of housing tenure include owner occupancy
Owner-occupier
An owner-occupier is a person who lives in and owns the same home. It is a type of housing tenure. The home of the owner-occupier may be, for example, a house, apartment, condominium, or a housing cooperative...

, Tenancy
Leasehold estate
A leasehold estate is an ownership of a temporary right to land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or landlord....

, housing cooperative
Housing cooperative
A housing cooperative is a legal entity—usually a corporation—that owns real estate, consisting of one or more residential buildings. Each shareholder in the legal entity is granted the right to occupy one housing unit, sometimes subject to an occupancy agreement, which is similar to a lease. ...

, condominium
Condominium
A condominium, or condo, is the form of housing tenure and other real property where a specified part of a piece of real estate is individually owned while use of and access to common facilities in the piece such as hallways, heating system, elevators, exterior areas is executed under legal rights...

s (individually parceled properties in a single building), public housing
Public housing
Public housing is a form of housing tenure in which the property is owned by a government authority, which may be central or local. Social housing is an umbrella term referring to rental housing which may be owned and managed by the state, by non-profit organizations, or by a combination of the...

, squatting
Squatting
Squatting consists of occupying an abandoned or unoccupied space or building, usually residential, that the squatter does not own, rent or otherwise have permission to use....

, and cohousing
Cohousing
A cohousing community is a type of intentional community composed of private homes supplemented by shared facilities. The community is planned, owned and managed by the residents – who also share activities which may include cooking, dining, child care, gardening, and governance of the...

. The occupants of a residence constitute a household
Household
The household is "the basic residential unit in which economic production, consumption, inheritance, child rearing, and shelter are organized and carried out"; [the household] "may or may not be synonymous with family"....

.

Residences can be classified by, if, and how they are connected to neighboring residences and land. Different types of housing tenure can be used for the same physical type. For example, connected residents might be owned by a single entity and leased out, or owned separately with an agreement covering the relationship between units and common areas and concerns.

Major categories in North America and Europe
  • Attached / multi-unit dwellings
    • Apartment
      Apartment
      An apartment or flat is a self-contained housing unit that occupies only part of a building...

       - An individual unit in a multi-unit building. The boundaries of the apartment are generally defined by a perimeter of locked or lockable doors. Often seen in multi-story apartment buildings.
    • Multi-family house
      Multi-family residential
      Multi-family residential is a classification of housing where multiple separate housing units for residential inhabitants are contained within one building or several buildings within one complex. A common form is an apartment building...

       - Often seen in multi-story detached buildings, where each floor is a separate apartment or unit.
    • Terraced house
      Terraced house
      In architecture and city planning, a terrace house, terrace, row house, linked house or townhouse is a style of medium-density housing that originated in Great Britain in the late 17th century, where a row of identical or mirror-image houses share side walls...

       (a.k.a. townhouse or rowhouse) - A number of single or multi-unit buildings in a continuous row with shared walls and no intervening space.
    • Condominium
      Condominium
      A condominium, or condo, is the form of housing tenure and other real property where a specified part of a piece of real estate is individually owned while use of and access to common facilities in the piece such as hallways, heating system, elevators, exterior areas is executed under legal rights...

       - Building or complex, similar to apartments, owned by individuals. Common grounds and common areas within the complex are owned and shared jointly. There are townhouse or rowhouse style condominiums as well.
    • Cooperative
      Cooperative
      A cooperative is a business organization owned and operated by a group of individuals for their mutual benefit...

       (a.k.a. "co-op) - A type of multiple ownership in which the residents of a multi-unit housing complex own shares in the cooperative corporation that owns the property, giving each resident the right to occupy a specific apartment or unit.
  • Semi-detached
    Semi-detached
    Semi-detached housing consists of pairs of houses built side by side as units sharing a party wall and usually in such a way that each house's layout is a mirror image of its twin...

     dwellings
    • Duplex
      Duplex (building)
      The term duplex can be used to describe several different dwelling unit configurations:A duplex house is defined as a dwelling having apartments with separate entrances for two families. This includes two-story houses having a complete apartment on each floor and also side-by-side apartments on a...

       - Two units with one shared wall.
  • Single-family detached home
  • Portable dwellings
    • Mobile home
      Mobile home
      Mobile homes or static caravans are prefabricated homes built in factories, rather than on site, and then taken to the place where they will be occupied...

      s - Potentially a full-time residence which can be (might not in practice be) movable on wheels.
    • Houseboat
      Houseboat
      A houseboat is a boat that has been designed or modified to be used primarily as a human dwelling. Some houseboats are not motorized, because they are usually moored, kept stationary at a fixed point and often tethered to land to provide utilities...

      s - A floating home
    • Tent
      Tent
      A tent is a shelter consisting of sheets of fabric or other material draped over or attached to a frame of poles or attached to a supporting rope. While smaller tents may be free-standing or attached to the ground, large tents are usually anchored using guy ropes tied to stakes or tent pegs...

      s - Usually very temporary, with roof and walls consisting only of fabric-like material.


The size of an apartment or house can be described in square feet or meters. In the United States, this includes the area of "living space", excluding the garage and other non-living spaces. The "square meters" figure of a house in Europe may report the total area of the walls enclosing the home, thus including any attached garage and non-living spaces, which makes it important to inquire what kind of surface definition has been used.

It can be described more roughly by the number of rooms. A studio apartment
Studio apartment
A studio apartment, also known as a studio flat , efficiency apartment or bachelor/bachelorette style apartment, is a small apartment which combines living room, bedroom, and kitchen or kitchenette into a single room...

 has a single bedroom with no living room (possibly a separate kitchen). A one-bedroom apartment has a living or dining room separate from the bedroom. Two bedroom, three bedroom, and larger units are common. (A bedroom is defined as a room with a closet for clothes storage.)

Major categories in India and the Asian Subcontinent
  • Housing Societies (CGHS)
  • Condominiums
  • Builder flats
  • Chawls
  • Havelis
  • Lal Dora - Where people carry out commercial and residential activities both.


The size is measured in Gaz (square yards), Quila, Marla, Beegha, and acre.

See List of house types for a complete listing of housing types and layouts, real estate trends
Real estate trends
Real estate trends is a generic term used to describe any consistent pattern or change in the general direction of the real estate industry which, over the course of time, causes a statistically noticeable change...

 for shifts in the market and house
House
A house is a building or structure that has the ability to be occupied for dwelling by human beings or other creatures. The term house includes many kinds of different dwellings ranging from rudimentary huts of nomadic tribes to free standing individual structures...

 or home
Home
A home is a place of residence or refuge. When it refers to a building, it is usually a place in which an individual or a family can rest and store personal property. Most modern-day households contain sanitary facilities and a means of preparing food. Animals have their own homes as well, either...

 for more general information.

Market sector value



According to The Economist
The Economist
The Economist is an English-language weekly news and international affairs publication owned by The Economist Newspaper Ltd. and edited in offices in the City of Westminster, London, England. Continuous publication began under founder James Wilson in September 1843...

, "developed economies'" assets at the end of 2002 were the following:
  • Residential property: $48 trillion;
  • Commercial property
    Commercial property
    The term commercial property refers to buildings or land intended to generate a profit, either from capital gain or rental income.-Definition:...

    : $14 trillion;
  • Equities: $20 trillion;
  • Government bonds: $20 trillion;
  • Corporate bond
    Corporate bond
    A corporate bond is a bond issued by a corporation. It is a bond that a corporation issues to raise money in order to expand its business. The term is usually applied to longer-term debt instruments, generally with a maturity date falling at least a year after their issue date...

    s: $13 trillion;
  • Total: $115 trillion.

That makes real estate assets 54% and financial assets 46% of total stocks, bonds, and real estate assets. Assets not counted here are bank deposits
Deposit account
A deposit account is a current account, savings account, or other type of bank account, at a banking institution that allows money to be deposited and withdrawn by the account holder. These transactions are recorded on the bank's books, and the resulting balance is recorded as a liability for the...

, insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...

 "reserve" assets, natural resources
Natural Resources
Natural Resources is a soul album released by Motown girl group Martha Reeves and the Vandellas in 1970 on the Gordy label. The album is significant for the Vietnam War ballad "I Should Be Proud" and the slow jam, "Love Guess Who"...

, and human assets. It is not clear if all debt
Debt
A debt is an obligation owed by one party to a second party, the creditor; usually this refers to assets granted by the creditor to the debtor, but the term can also be used metaphorically to cover moral obligations and other interactions not based on economic value.A debt is created when a...

 and equity
Ownership equity
In accounting and finance, equity is the residual claim or interest of the most junior class of investors in assets, after all liabilities are paid. If liability exceeds assets, negative equity exists...

 investments are counted in the categories equities and bond.

Mortgages in real estate


In recent years, many economists have recognized that the lack of effective real estate laws can be a significant barrier to investment in many developing countries. In most societies, rich and poor, a significant fraction of the total wealth is in the form of land and buildings.

In most advanced economies, the main source of capital used by individuals and small companies to purchase and improve land and buildings is mortgage loan
Mortgage loan
A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan...

s (or other instruments). These are loans for which the real property itself constitutes collateral
Collateral (finance)
In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan.The collateral serves as protection for a lender against a borrower's default - that is, any borrower failing to pay the principal and interest under the terms of a loan obligation...

. Banks are willing to make such loans at favorable rates in large part because, if the borrower does not make payments, the lender can foreclose
Foreclosure
Foreclosure is the legal process by which a mortgage lender , or other lien holder, obtains a termination of a mortgage borrower 's equitable right of redemption, either by court order or by operation of law...

 by filing a court action which allows them to take back the property and sell it to get their money back. For investors, profitability can be enhanced by using an off plan
Off plan
Off-plan property is a property that has not yet been fully constructed. Some developers offer the chance for buyers / property investors to purchase a property before work has started...

 or pre-construction strategy to purchase at a lower price which is often the case in the pre-construction phase of development.

But in many developing countries there is no effective means by which a lender could foreclose, so the mortgage loan industry, as such, either does not exist at all or is only available to members of privileged social classes.

See also



  • 1031 exchange
  • Buyer brokerage
    Buyer brokerage
    A buyer brokerage or buyer agency is the practice of real estate brokers and their agents representing a buyer in a real estate transaction rather than, by default, representing the seller either directly or as a sub-agent. In the United Kingdom and Australia, the most common term is buying...

     (in the USA
    United States
    The United States of America is a federal constitutional republic comprising fifty states and a federal district...

    )
  • Buying agent
    Buying agent
    Buying agents is a term used in the UK to describe people acting as agents on behalf of a buyer and not the seller, as do traditional Estate agents whose job is to obtain the maximum price for a property for the seller...

     (in the UK
    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...

    )
  • Estate (house)
    Estate (house)
    An estate comprises the houses and outbuildings and supporting farmland and woods that surround the gardens and grounds of a very large property, such as a country house or mansion. It is the modern term for a manor, but lacks the latter's now abolished jurisdictional authority...

  • Estate agent
    Estate agent
    An estate agent is a person or business that arranges the selling, renting or management of properties, and other buildings, in the United Kingdom and Ireland. An agent that specialises in renting is often called a letting or management agent...

     (in the UK)
  • Real estate broker
    Real estate broker
    A real estate broker, real estate agent or realtor is a party who acts as an intermediary between sellers and buyers of real estate/real property and attempts to find sellers who wish to sell and buyers who wish to buy...

     (in the USA)
  • Housing bubble
  • International real estate
    International real estate
    The term international real estate describes a relatively new phenomenon, beginning in the 1980s and keeping pace with globalization. The term encompasses real property development, sales and leasing transactions across national borders...

  • Investment Rating for Real Estate
    Investment Rating for Real Estate
    An investment rating of a real estate property measures the property’s risk-adjusted returns, relative to a completely risk-free asset. Mathematically, a property’s investment rating is the return a risk-free asset would have to yield to be termed as good an investment as the property whose rating...


  • List of real estate topics
  • Mortgage loan
    Mortgage loan
    A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan...

  • Net lease
    Net lease
    In commercial real estate, a net lease requires the tenant to pay, in addition to rent, some or all of the property expenses which normally would be paid by the property owner...

  • Private Equity Real Estate
    Private equity real estate
    In investment finance, private equity real estate is an asset class consisting of equity and debt investments in property. Investments typically involve an active management strategy ranging from moderate reposition or releasing of properties to development or extensive redevelopment.Investments...

  • Property rights
  • Real estate broker
    Real estate broker
    A real estate broker, real estate agent or realtor is a party who acts as an intermediary between sellers and buyers of real estate/real property and attempts to find sellers who wish to sell and buyers who wish to buy...

     (in the USA)
  • Estate agent
    Estate agent
    An estate agent is a person or business that arranges the selling, renting or management of properties, and other buildings, in the United Kingdom and Ireland. An agent that specialises in renting is often called a letting or management agent...

     (in the UK)
  • Real estate appraisal
    Real estate appraisal
    Real estate appraisal, property valuation or land valuation is the process of valuing real property. The value usually sought is the property's Market Value. Appraisals are needed because compared to, say, corporate stock, real estate transactions occur very infrequently...

  • Real estate broker
    Real estate broker
    A real estate broker, real estate agent or realtor is a party who acts as an intermediary between sellers and buyers of real estate/real property and attempts to find sellers who wish to sell and buyers who wish to buy...

  • Real estate economics
    Real estate economics
    Real estate economics is the application of economic techniques to real estate markets. It tries to describe, explain, and predict patterns of prices, supply, and demand...


  • Real estate developer
  • Real estate investment trust
    Real estate investment trust
    A real estate investment trust or REIT is a tax designation for a corporate entity investing in real estate. The purpose of this designation is to reduce or eliminate corporate tax. In return, REITs are required to distribute 90% of their taxable income into the hands of investors...

  • Real estate pricing
    Real estate pricing
    Real estate pricing deals with the valuation of real estate and all the standard methods of determining the price of fixed assets apply....

  • Real estate transaction
    Real estate transaction
    A real estate transaction is the process whereby rights in a unit of property is transferred between two or more parties, e.g. in case of conveyance one party being the seller and the other being the buyer...

  • Real estate transfer tax
    Real estate transfer tax
    Real estate transfer tax is a tax that may be imposed by states, counties, or municipalities on the privilege of transferring real property within the jurisdiction. Total transfer taxes range from very small to relatively large . Some U.S...

  • Real estate trends
    Real estate trends
    Real estate trends is a generic term used to describe any consistent pattern or change in the general direction of the real estate industry which, over the course of time, causes a statistically noticeable change...

  • 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...

  • Realtor
  • Short sale (real estate)
    Short sale (real estate)
    A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property and the property owner cannot afford to repay the liens' full amounts, whereby the lien holders agree to release their lien on the real...

  • Specialized investment fund
    Specialized investment fund
    A specialized investment fund or SIF is a type of investment fund governed by the Luxembourgish law of the 13th February 2007 replacing the law of 1991 defining the legal framework for institutional funds and enlarging the destribution scope to "informed investors"...

  • Subprime mortgage crisis
    Subprime mortgage crisis
    The U.S. subprime mortgage crisis was one of the first indicators of the late-2000s financial crisis, characterized by a rise in subprime mortgage delinquencies and foreclosures, and the resulting decline of securities backed by said mortgages....


  • Real estate owned
    Real estate owned
    Real estate owned or REO is a class of property owned by a lender typically a bank, government agency, or government loan insurer, after an unsuccessful sale at a foreclosure auction. A foreclosing beneficiary will typically set the opening bid at a foreclosure auction for at least the outstanding...

  • Real estate in the People's Republic of China
    Real estate in the People's Republic of China
    Real estate in the People's Republic of China is developed and managed by public, private, and state-owned red chip enterprises. Currently the market is experiencing tremendous growth and the central government has implemented measures to tighten interest rates, increase deposit and impose...

  • Guaranteed home sale
    Guaranteed home sale
    The guaranteed home sale is a program offered by some realtors in North America. The program guarantees that a home will be sold for a certain amount of money and by a certain date, or the realtor will purchase the house...



External links