Difference between revisions of "Real estate"
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| − | '''Real estate''', also known as '''real property''', is a term which generally denotes: | + | '''Real estate''', also known as '''real property''' (and, in Louisiana, as '''immovable property'''), is a term which generally denotes: |
*land, | *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 | *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). | *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 to sell real estate [[FSBO|without using a real estate agent]], the majority of real estate transactions are handled via real estate agents. | + | Real estate generally is subject to [[property tax]], and although it is possible (and not uncommon) to sell real estate [[FSBO|without using a real estate agent]], the majority of real estate transactions (especially those involving homes) are handled via real estate agents. |
[[Category:Investments]] | [[Category:Investments]] | ||
[[Category:Real Estate]] | [[Category:Real Estate]] | ||
[[Category:Legal Terms]] | [[Category:Legal Terms]] | ||
Revision as of 21:47, February 24, 2019
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.