Real estate is “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 this (also) an item of real property, (more generally) buildings or housing in general.
Consequently, what are the different types of real estate?
Four Types of Real Estate
- Residential real estate includes both new construction and resale homes.
- Commercial real estate includes shopping centers and strip malls, medical and educational buildings, hotels and offices.
- Industrial real estate includes manufacturing buildings and property, as well as warehouses.
Additionally, what are the 3 types of property? In economics and political economy, there are three broad forms of property: private property, public property, and collective property (also called cooperative property).
Simply so, what is considered property?
‘Real’ property encompasses interests in land and fixtures or structures upon the land. ‘Personal’ property encompasses tangible or ‘corporeal’ things—chattels or goods. Tangible things exist independently of law but law governs rights of ownership and possession in them—including whether they can be ‘owned’ at all.
What is real or personal property?
Personal property is movable property. It’s anything that can be subject to ownership, except land. Real property is immovable property – it’s land and anything attached to the land. Normally, a piece of property can be easily classified as either personal property or real property.