Real Estate also called immovable property includes the ownership and possession of land along with anything permanently fixed to that land such as buildings, garages, improvements, and buildings. Real estate is often considered synonymous with real property as different to personal property, which includes all other property and is also called reality.
Real estate is one of the oldest areas of law and contains many archaic terms and concepts. Many consumers find the unfamiliar terms used in the real estate game trivial confusing when they enter the realty market. However, today we find that many of the rights and responsibilities regarding real estate have progressed and been updated as society has changed. You can also look http://speedwelllaw.com for more knowledge about real estate law.
Owning real property – The real estate law says that when you own property, you have the right to do whatever you want with the land, except what is restricted by the real estate law. You have the right to use the land, rent or lease it, sell or transfer it, use it as security for a loan, bequeath it to a beneficiary or even just gift it away. You could also let it sit idle but in some cases, this may overstep on laws imposed by the state.
There exist some restrictions compulsory by real estate law on owning real property. Although on one hand, it is said that one can do whatever one wants if he owns the property, there are some restrictions compulsory by the government – federal, state, country and local law enforcement agencies.