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Realty vs Real Estate vs Real Property |
Realty, real estate and real property are the terms which are usually
confused. But in reality they mean different, though connected
to
each other, notions. Realty
is the term which represents
all the three domains of the immovable property, it is the definition
of land, real estate and realty property taken in their wide
sense.
But land is not taken here as a handful of the soil, but the territory
with underground space and the air above the territory.
Real estate comprises land, outside facilities attached by the
owner. Fences, lawns, pathways may all be included here, as well as
houses
Real property (or rather realty, for realty is a fusion of
two words real + property) is considered to be the land and everything
attached to it in the possession of the proprietor which is immovable.
But what is more important the essence of the notion of the realty
property is in the following: except for the material possessions,
realty property grants the owner some inalienable rights. these rights
include the inherent right to dispose and possess, and also control, to
enjoy and to exclude. Here to exclude means to let to your own property
only those who you are willing to invite. That's where the proverb" my
home is my castle" originates.
Real property, or realty in its wider meaning, is an apt material for realty listings
in
the Internet, its a very profitable domain for realty agents.
Nowadays
anyone who has at least some knowledge in the field tries to get profit
and sell city realty.
Though, the term real estate may also be used in the property law in
the meaning of the interest in the land mentioned in a will of a dead
person.
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