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:
“We are the only real aristocracy in the world: the aristocracy of money.”
—George Bernard Shaw (1856–1950)
“For wisdom is the property of the dead,
A something incompatible with life; and power,
Like everything that has the stain of blood,
A property of the living; but no stain
Can come upon the visage of the moon
When it has looked in glory from a cloud.”
—William Butler Yeats (1865–1939)