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Real Estate Articles |
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A Brief Look at What Real Estate Is
Real estate is a term with a legal definition that takes into account land as well as a house or building that is permanently situated on that piece of land. Real estate is considered to be real property or realty. However in some parts of the world real estate is land and the fixtures whereas real property is the ownership rights to the land and not the land itself.
The words "real estate" was first used, according to historical records, in the year 1666. The word real comes from the word "royal" which then derives from the Latin root for king. This is because for hundreds of year's time, all land was owned by the Royal family as opposed to regular citizens being land owners. |
In the business sector, real estate is broken down into a variety of different areas of business. Some of these include appraisal, brokerages, development, property management, real estate marketing, real estate investing, relocation services, and corporate real estate. Within each one of these areas real estate is then subdivided down further into specializations, such as commercial, industrial or residential property.
Residential real estate refers to the legal right to live in a particular dwelling. This is also known as the housing tenure. There are a number of different kinds of real estate of a residential nature. These include tenancy, condominiums, housing cooperative, and public housing. Other versions of this include owning or renting a timeshare or cohousing.
In the United States as well as in Europe, real estate is broken down into a number of physical categories. There are multi-unit dwellings that ate attached such as apartments (or flats if you reside outside of North America), multi-family houses, terraced houses (also known as townhouses or rowhouses) and condos (which is a building similar to apartment but one in which individuals own their units as opposed to renting them). There are some condominiums that are rowhouse or townhouse in design.
There are also semi-detached dwellings such as duplexes or semis. In this case it is two homes in one with a shared wall between the two. Other types of residential real estate include single-family detached homes, such as bungalows and portable dwellings such as mobile homes, houseboats and tents. |
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