Real Estate

Land and anything that is permanently affixed to it, including buildings, sheds and other items attached to the structure, is considered real estate or real property.  Property that is not affixed to the land is considered personal property. The sale and lease of real estate in the United States are major economic activities and are regulated by state and federal laws. The two major types of real estate are commercial and residential real estate. Commercial real estate involves the sale and lease of property for business purposes. Residential real estate involves the sale and rental of land and houses to individuals and families for daily living.  Real estate transactions are complicated, and because property can be your primary asset or a significant portion of your estate, you should always seek legal assistance when you buy or sell property.