Real estate includes real property consisting of the actual buildings and land on it, together with its accompanying natural resources like water, plants or minerals; immovable real estate of this kind; a proprietary interest in it, buildings, houses or real estate in general. When the term 'real estate' is used in a legal context, it refers to the individual ownership of real estate by a person, firm or company. Real estate comprises land not rented or leased, which may be used for business, pleasure or recreational purposes, and is generally measured in acres. The term is commonly employed in California and includes all real estates not designated as a limited liability entity, as well as private housing. Limited liability entities usually do not engage in business, but own the assets that carry their interest, and control the day-to-day operation of the real estate. You can click this article to read more about real estate.
The majority of real estate in the is immovable. Immovable real estate means that the property cannot be immediately transferred from one person to another. Permanent within the meaning of the term is real property that does not change hands between owners. Whether natural or immovable, real property should have a clear title and be devoted to some meaningful use. Title to real estate should be clearly established either by a recorded deed or a written contract.
When assessing whether natural or man-made structures on the same property must be inventoried and accounted for under real estate law, the courts may take into consideration the purpose for establishing the boundary line, whether the property was developed commercially or industrially, and whether the land was used for residential, agricultural, commercial or industrial purposes. The boundary line must generally follow the direction of the sun along the surface of the ground. Where the boundary line passes through a reservation, the court may not inquire into the reason for its passing. In certain state statutes, a boundary line need only be established so that the boundaries of adjoining properties can be distinguished. In the absence of such statutes, the court may look to the "public notice" laws of the state in determining whether to establish a public notice of boundary.
Man-made and permanent features on the land can be distinguished on a number of economic, physical and logical grounds. The first and most important basis for distinguishing the physical characteristics of real estate involves the difference between "freehold" and "fenced in." Freehold property is that which is legally free to sell. Fenced in property is that which is physically enclosed by fences or walls.
The different economic characteristics of land include value, interest and worth, convenience, investment, reliability, esthetics, soil, climate, soil drainage, rate of site development and easements. Values, rates and easements relate to the cost of leasing or buying the land. Easements relate to access to the land. Reliability refers to the quality of the land's drainage. Whether or not soil drainage is good enough for building a house on the land, the landowner must now determine the cost of constructing roads and sewers and how much of those costs must be covered by him.
One of the major differences between economic and man-made land is easements. Although they are often confused with freehold land rights, an easement gives the owner permission to cross another's land without first obtaining the other's written consent. Economic and man-made characteristics of real estate can also be determined by their location, such as urban areas have lower real estate values than rural areas, industrial areas have higher values than suburban areas, strip malls have higher values than rural strip malls and so on. If you want to know more about this topic, then click here: https://en.wikipedia.org/wiki/Real_estate.