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Real estate law is the body of regulations and legal codes which pertain to such matters under a particular jurisdiction. Real estate is often considered synonymous with real property (also sometimes called realty), in contrast with personal property (also sometimes called chattel or personalty under chattel law or personal property law).
However, in some situations the term "real estate"
refers to the land and fixtures together, as
distinguished from "real property," referring
to ownership rights of the land itself.[clarify]
The terms real estate and real property are used primarily in common law, while civil law jurisdictions refer instead to immovable property.
Real estate is a pretty broad area. The basic definition of real estate is the land and anything attached to the land, whether it's natural or man-made. When you purchase real estate, you are purchasing the land and everything that goes with it.
Improvements: If you build a house, shed, fence or anything else on the land it is called an improvement. It doesn't matter if the thing you built makes the real estate uninhabitable, like a nuclear waste facility, it is still an improvement.
Bundle of Legal rights: Ownership of real estate comes with certain legal rights, known as the bundle of legal rights. The bundle of legal rights comes in five different areas.
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