Real Estate
/ˈrē(ə)l əsˌtāt/
Property consisting of land and the buildings on it, in addition to the natural resources of the land and air rights above it.
“Real” comes from the Latin root res, or things.
Estate from Latin status ‘state, condition’, from stare ‘to stand’.
There are two types of properties, real property & personal property.
Real estate is a particular form of real property. Real property, a very general term, “includes land, buildings and other improvements – as well as the rights of use and enjoyment of that land and all its improvements.”
Personal property includes intangible assets like stocks, bonds and other investments; it also includes chattels, like computers, furniture and clothes, as well as fixtures like dishwashers.
Real estate is usually grouped into three general categories based on its use: residential, commercial and industrial.
Examples of residential real estate include undeveloped land, houses, condominiums and town houses.
Commercial real estate are warehouses, office buildings and retail store buildings; and last but not least examples of industrial real estate include factories, mines and farms.