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1. 5 ways to identify Real Estate properties
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2. What is real estate?
• Real Estate is the business of buying , selling and
renting real property.
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3. How do you define Real Estate?
• Real estate is the property consisting of land
and the buildings on it, along with its natural
resources such as crops, minerals, or water;
immovable property of this nature an interest
vested in buildings or housing of an item of real
property.
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4. Meaning of Estate
• An estate comprises the houses and
outbuildings and supporting farmland and
woods that surround the gardens and grounds of
a very large property, such as a country house
or mansion.
• It is the modern term for a manor, but lacks the
latter's now abolished jurisdictional authority.
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5. Continue….
• It is an "estate" because the profits from its produce and rents are
sufficient to support the household in the house at its center,
formerly known as the manor house.
• Thus "the estate" may refer to all other cottages and villages in the
same ownership as the mansion itself, covering more than one
former manor.
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6. 1.Historical background
• The word "real" ultimately derives from
Latin res ("thing") and was used in Middle
English to mean "relating to things, especially
real property".
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7. Continued..
• In common law real property was property that
could be protected by some form of real action in
contrast to personal property, where
a plaintiff would have to resort to another form of
action.
• As a result of this formalist approach, some things
the common law deems to be land would not be
classified as such by most modern legal systems, for
example an advowson (the right to nominate a
priest) was real property.
• By contrast the rights of a leaseholder originate in
personal actions and so the common law originally
treated a leasehold as part of personal property.
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8. 2.Residential real estate
• The legal arrangement for the right to occupy a
dwelling in countries is known as the housing
tenure.
Meaning of tenure:
The conditions under which land or buildings
are held or occupied.
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9. 3.Classification of Residencies
• Residences can be classified by, if, and how they
are connected to neighboring residences and
land.
• Different types of housing tenure can be used for
the same physical type.
• For example, connected residents might be
owned by a single entity and leased out, or
owned separately with an agreement covering
the relationship between units and common
areas and concerns.
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10. 4.Major Categories
• Attached / multi-unit dwellings
• Apartment
• Multi-family house
• Terraced house
• Condominium
• Cooperative
• Semi-detached
• Duplex
• Single-family detached home
• Portable dwellings
• Mobile homes
• Houseboats
• Tents
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11. 5.Identification of real property
• To be of any value a claim to any property must
be accompanied by a verifiable and
legal property description.
• Such a description usually makes use of natural
or manmade boundaries such as seacoasts,
rivers, streams, the crests of
ridges, lakeshores, highways,roads, and railroad
tracks, and/or purpose-built markers such
as cairns, surveyor's posts, fences, official
government surveying marks
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12. Thank you
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