Real Property

Definition

  • Permanent, non-movable property, such as land and buildings. See also "Real Estate."

Synonyms
real estate, immovable property, realty, property

Alternate Spellings
Real Estate

Related Terms and Acronyms

  • Agreed Boundary Definition,
    • Property lines that are drawn to settle a dispute between neighbouring property owners.
  • Appreciation Definition,
    • An increase in the value of a property or item.
  • Buffer Strip Definition,
    • This refers to a parcel or stretch of land that separates two pieces of property.
  • Building and Loan Association Definition,
    • A financial institution designed to help members finance real-estate transactions.
  • Chattel Definition,
    • Personal property that can be moved.
  • Chattel Mortgage Definition, Important,
    • A loan backed by movable personal property. Generally mobile or trailer homes.
  • Estate Definition,
    • The ownership interest of an individual in real property.
    • The total sum of all the real property and personal property owned by an individual at time of death.
  • Fixed Assets (FA) Acronym, Important,
    • Assets like machinery, land, buildings, or property used in operating a business that will not be consumed or converted into cash during the current accounting period.
  • Fixture Definition,
    • Personal property that becomes real property when it is attached to a building. Examples include chandeliers, built-in bookcases and cabinets and drapery rods.
  • Land Definition,
    • The solid ground of the earth. This can include everything under it and over it. For example, Condominium Acts do divide land horizontally thereby limiting the vertical ownership.
  • Metes and Bounds Definition,
    • A surveyor's legal description of a parcel of land, defined by measurements and angles.
  • Non-recourse Debt Definition,
    • A loan secured by collateral where the borrower is not personally liable.
  • Property Report Definition,
    • A legal disclosure that developers of timeshare properties are required to give to prospective buyers.
    • A legal document prepared by a surveyor that shows the locations of all visible public and private improvements relative to property boundaries.
  • Real Estate (RE) Acronym, Very Important,
    • A section of land including all the natural resources (above and below the surface) and any permanent buildings or structures located on it. Also known as "realty."
  • Unaffiliated Investments Definition,
    • Investments in assets made by an insurance company where they have no control over the assets.
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