Why is it Called Real Estate

Why is it Called Real Estate?

Real Estate, as the term”real”,itself explains us that it means a place that can be touched and seen by anyone.Here,real means physical or genuine, original and estate means “land”, whether it is man-made or any natural resources that are occupied in that land.

Etymology:

The word “Real Estate” was first coined in the 1660’s and holds the earliest English perception of the word. According to the https://www.00216.fr, real comes from the root of Latin”res”the meaning of which is actual or original, and estate eludes it as land. Some of the other researchers believe that the Latin word rex denotes Royal, as the kings had the ownership of all the land in the kingdom.

Defining the term

Defining the term:

Real means substantial, material, physical, something i.e. solid and estate or property means land. Anything that is permanently attached to it or is fixed, which cannot be moved, like building, house, fences, roads, sewers, structures, trees. If you own a real estate or property the rights to air, minerals and surface belong to you. The rights though can be transferred, sold, leased or be bought. Real Estate is basically any kind of property consisting a structure on a land, whether it may be a house, building, office, a parking lot, apartment etc.

The meaning of real estate business is selling, buying or renting any kind of housing land and buildings. One of the most lucrative and internationally recognised sectors is Real Estate.

There are 4 Types of Real Estate

There are 4 Types of Real Estate:

Residential type of real estate: It means construction and the reselling of homes. The land may be underdeveloped or there may be homes that are for nuclear families, or multi dwelling houses, condos and row houses. Any kind of commercial business cannot be done on residential real estate. Residential caravan and mobile homes, although they are movable are considered in Residential real estate.

• Commercial type of real estate: It comprises of educational and medical building like schools, colleges and hospitals, shoppingcomplexes, restaurants and hotels, offices. Although apartment buildings are residential they are considered in commercial as they are used to produce revenue or income.

• Industrial type of real estate: It contains factories, warehouses, manufacturing units, even big farms and mining areas. The structure can be used for business purposes like production, storage, research and distribution of final products and materials.

• Real estate means producing, buying and selling of property.

Distinctiveness between Personal Property and Real Property

Distinctiveness between Personal Property and Real Property

Real property or fixed one means something that is immovable, that can always be touched and found by anyone. Land is a real property and it includes everything that is there on the land comprising of artificial as well as natural resources. Personal property means property that is movable, for example: You are the owner of a house, the house is a real property, but you have various tangible assets in your house like television, refrigerator, washing machine, those are personal properties. Even intangible assets like shares, mutual funds that cannot be touched as considered in personal property.

Real Estate has three basic types: Residential, Commercial and Industrial. If we talk about investments there is monetary gain in Real Estate. If an individual wants to invest, then residential real estate is a preferable choice, as it is more feasible and cost optimizing. From a business point of view investing in commercial real estate would gain more capital and high return. Real estate agents are licensed individuals who help us in conducting the real estate business, whether it is buying, selling or renting.