Real estate, or immovable property, is a legal term (in some jurisdictions) that encompasses land along with anything permanently affixed to the land, such as buildings. Real estate (immovable property) is often considered synonymous with real property (also sometimes called realty), in contrast with personal property (also sometimes called chattel or personalty). However, for technical purposes, some people prefer to distinguish real estate, referring to the land and fixtures themselves, from real property, referring to ownership rights over real estate.

The terms real estate and real property are used primarily in common law, while civil law jurisdictions refer instead to immovable property. Property law, the area of the common law that governs real property, differs from contract law in that it focuses primarily on rights that one person holds over all other people, as opposed to specific individuals.

Background

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In recent years, many economists have recognized that the lack of effective real estate laws can be a significant barrier to investment in many developing countries. In most societies, rich or poor, a significant fraction of the total wealth is in the form of land and buildings. In most advanced economies, the main source of capital used by individuals and small companies to purchase and improve land and buildings is mortgages -- bank loans for which the real property itself constitutes collateral. Banks are willing to make such loans at favorable rates in large part because if the borrower does not make payments the lender can foreclose, that is, file a court action that lets them take the property and sell it to get their money back. However, in many developing countries, there is no effective means by which a lender could foreclose, so the mortgage loan industry as such either does not exist at all or is only available to members of privileged social classes.

More on [ Real estate ]

NYT > Real Estate

Streetscapes | 440 East 56th Street: For a Lullaby, the Bip-Bop-Bip of Tennis Balls
By CHRISTOPHER GRAY Thu, 02 Jul 2009 21:37:28 -0000
The apartment building at 440 East 56th Street is an exemplar of how modernism and humanism can coexist.
Habitats: The Traveling Circus Stops Here
By CONSTANCE ROSENBLUM Thu, 02 Jul 2009 22:26:35 -0000
Two clowns who perform in some of the most troubled places on earth practice in a walk-up near 128th Street.
Away: A Jazz Voice Finds a Mellower Range
By LISA A. PHILLIPS Fri, 03 Jul 2009 05:31:38 -0000
When it’s time for the jazz singer Sheila Jordan to work on arrangements, she heads to Middleburgh, N.Y.

Home mortgage rates and real estate news - CNNMoney.com

Manhattan home prices plunge
Thu, 02 Jul 2009 00:09:19 -0400
The housing bust has finally clobbered super-pricey Manhattan home prices.
Housing rebound continues, barely
Wed, 01 Jul 2009 10:50:20 -0400
Home sales continued their modest upward swing in May, according to a closely watched industry report that rose for the fourth straight month for the first time in nearly 5 years.
Beazer settles $50M mortgage fraud case
Wed, 01 Jul 2009 16:56:53 -0400
Read full story for latest details.

Forbes.com: Real Estate News

Traditional D.C.-Area Spread For Sale
Matthew Woolsey Wed, 01 Jul 2009 16:00:00 -0000
In a wealthy Bethesda, Md., neighborhood, this Colonial is listed for $2.3 million.
America's Best And Worst Cities For Families
Forbes staff Mon, 29 Jun 2009 14:00:00 -0000
Metros where folks have enough money for everyday expenses, and spots where daily budgets eat up a sizable chunk of incomes.
Bethune Gets A Deal From Madoff Victim
William Heuslein Tue, 30 Jun 2009 02:23:36 -0000
Former Continental Airlines chief nabs Manhattan apartment at a discount from widow of friend of fraudster.

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