Common Real Estate Concepts
Okay so here we are going to talk a bit about the basics of real estate. When we go out and buy a home we understand that we are generally buying the land resides plus some. Other words we are buying the land associated with that lot. Did you know that the land refers to much more than the surface of the earth but the earth all the way to the center of the earth and the air above it all the way to the stars. Of course it is hard to take advantage of all that but you do have rights. The land includes vegetation such as trees and bushes, etc.
When looking at the term real estate you need to include all the criteria for the definition of land and add the artificial things that are permanently attached to the land such as a house, fence, or barn.
To get the whole picture when understanding real estate you need to consider the term “real property”. Real property includes the definitions of land and real estate and includes all the legal rights, interests and privileges associated with the ownership of real estate.
