Friday, February 13, 2009

Relevant Concept of Real Estate


  1. Realty: Realty refers to land and buildings and other improvements from a physical stand point.

  2. Real property: Real property is defined as the land and generally whatever is erected, growing upon or affixed to the land. It refers to the right to own land and improvements.

  3. Real Estate: Real Estate refers to land and its improvements and the rights to own or use of them.

  4. Personal property: Personal property refers to ownership rights to items of a temporary or movable nature. It is defined as everything that is subject to ownership and not coming under the domination of real estate

  5. Personality: Personality refers to the physical object itself-which confer the social position. In practice, “Personal property” is used as a synonym for “Personality”

  6. Fixtures: When an object is attached to the land by virtue of its being imbedded in the land or affixed to the land by means of cement, bolts etc., it is called a fixture

Ordinarily a fixture is the property of the owner and when the land is conveyed to a new owner, it is automatically included with the land

No comments:

Post a Comment