Real estate is merged from two simple words, “real” meaning something physical, to be seen, felt or touched and presence of properties, assets equals “estate.” Hence, the business of
real estate involves the buying, selling, and renting of housing, lands and properties. According to
Wikipedia, real estate is property of land and the building 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.
The term
real estate is considered, for the legal use of the local law supportive, for the lands and things attached to it, as such; buildings, crops, minerals, water, air, e.t.c. It is a direct etymology from the Latin word realis equivalent to the French word reel and same with the modern English word real.
We should take note here that things attached to the land such as; garages, buildings, gardens, etc, are recognized as real properties, while mobile houses, tools or sheds are not considered real property.
There are three major types:
residential real estate,
commercial real estate and
industrial real estate.
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