Real estate

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Real estate, also known as real property (and, in Louisiana, as immovable property), is a term which generally denotes:

  • land,
  • structures on the land which cannot easily be relocated (a house generally would be considered real estate, while a travel trailer -- even if used as a residence -- would not), and
  • attachments to the structure which cannot easily be removed without major damage or making the structure useless (a central HVAC unit would be considered part of real estate, while a window air conditioner or space heater would not).

Real estate generally is subject to property tax, and although it is possible (and not uncommon) to sell real estate without using a real estate agent, the majority of real estate transactions (especially those involving homes) are handled via real estate agents.