What is real estate? Detailed answer

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What is real estate? Detailed answer

Big encyclopedia for children and adults

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What is real estate?

You may have a chair, a car, household equipment, and other possessions. Any of these things can be stolen, lost or broken. If you go to court to get the property back, you will be compensated for the lost or broken items. But if you were a landowner and for some reason the land was taken from you, then the judges can return the land itself to you.

In other words, land was immovable property, or real property, as opposed to movable property. In the old days, on the basis of this distinction in England, the existence of two types of property was legalized - real estate (or real estate, as we say now) and movable property. In the old days, land (real estate) was considered the greatest value. Today, there are things that are considered by people as more valuable than real estate. For example, part of the shares of a company, the right to use patents for the production of consumer goods or means of production.

In the era of feudalism, when laws were formed, not only land, but everything on it was considered real estate. For example, trees, buildings and everything related to them. The same interpretation of real estate exists today. For example, a table lamp is not an integral part of the building and can therefore be sold separately. If you fixed the lamp on the wall, it becomes a permanent part of the real estate and can only be sold together with the creation.

If a transaction for the sale of real estate to another person is carried out, then this action must be officially registered by the state land commission. Otherwise, this transaction is considered illegal. To this end, the person buying the land must carefully examine the title deeds. It must make sure that everything is in order, that is, no one else claims to buy this land and has no right to own it.

Author: Likum A.

Random interesting fact from the Great Encyclopedia:

How many people work in the largest supermarket?

The largest supermarket is located in New York on Broadway. It employs at least 12000 employees. "R. N. Masu & Co" covers 200000 m² retail space, where 400 items of goods are sold. The annual turnover is close to a billion dollars. Its founder, R. N. Masu, made $000 on his first day of trading in 1858.

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