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, etc. Real property and personal property are the two main subunits of property in English Common Law.
In countries with personal ownership of real property, civil law protects the status of real property in real-estate markets, where licensed agents, realtors, work in the market of buying and selling real estate. Scottish civil law calls real property "heritable property", and in French-based law, it is called immobilier.
Read more about Real Property: Identification of Real Property, Estates and Ownership Interests Defined, Jurisdictional Peculiarities, Economic Aspects of Real Property, Historical Background
Famous quotes containing the words real and/or property:
“But I choose to think he is escaped from the possibility of falling into any future afflictions, and that neither the malice of his pretended friends nor the sufferings of his real ones can ever again rend and torment his honest heart.”
—Sarah Fielding (1710–1768)
“It is as if being was to be observed,
As if, among the possible purposes
Of what one sees, the purpose that comes first,
The surface, is the purpose to be seen,
The property of the moon, what it evokes.”
—Wallace Stevens (1879–1955)