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5 ways to identify Real Estate properties

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What is real estate?

•Real Estate is the business of buying , selling and renting real property.

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How do you define Real Estate?

•Real estate is the property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature an interest vested in buildings or housing of an item of real property.

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Meaning of Estate

•An estate comprises the houses and outbuildings and supporting farmland and woods that surround the gardens and grounds of a very large property, such as a country house or mansion.

• It is the modern term for a manor, but lacks the latter's now abolished jurisdictional authority.

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Continue….

• It is an "estate" because the profits from its produce and rents are sufficient to support the household in the house at its center, formerly known as the manor house.

• Thus "the estate" may refer to all other cottages and villages in the same ownership as the mansion itself, covering more than one former manor.

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1.Historical background

•The word "real" ultimately derives from Latin res ("thing") and was used in Middle English to mean "relating to things, especially real property".

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Continued..• In common law real property was property that could

be protected by some form of real action in contrast to personal property, where a plaintiff would have to resort to another form of action.

• As a result of this formalist approach, some things the common law deems to be land would not be classified as such by most modern legal systems, for example an advowson (the right to nominate a priest) was real property.

• By contrast the rights of a leaseholder originate in personal actions and so the common law originally treated a leasehold as part of personal property.

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2.Residential real estate

•The legal arrangement for the right to occupy a dwelling in countries is known as the housing tenure.

Meaning of tenure: The conditions under which land or

buildings are held or occupied.

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3.Classification of Residencies

•Residences can be classified by, if, and how they are connected to neighboring residences and land.

•Different types of housing tenure can be used for the same physical type.

• For example, connected residents might be owned by a single entity and leased out, or owned separately with an agreement covering the relationship between units and common areas and concerns.http://shivasaidevelopers.com/

4.Major Categories• Attached / multi-unit dwellings• Apartment• Multi-family house• Terraced house• Condominium• Cooperative• Semi-detached• Duplex• Single-family detached home• Portable dwellings• Mobile homes• Houseboats• Tents

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5.Identification of real property

•To be of any value a claim to any property must be accompanied by a verifiable and legal property description.

• Such a description usually makes use of natural or manmade boundaries such as seacoasts, rivers, streams, the crests of ridges, lakeshores, highways,roads, and railroad tracks, and/or purpose-built markers such as cairns, surveyor's posts, fences, official government surveying marks  http://

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Thank you

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