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Understanding Real Estate

Writer's picture: Kirsten DunlapKirsten Dunlap

Land refers to the earth's surface down to the center of the earth and upward to the airspace above, including the trees, minerals, and water.

Real estate is the land, plus any permanent man-made additions, such as houses and other buildings.

Real property—one of the two main classifications of property—is the interests, benefits and rights inherent in the ownership of real estate.

Broadly speaking, real estate includes the physical surface of the land, what lies above and below it, what is permanently attached to it, plus all the rights of ownership—including the right to possess, sell, lease, and enjoy the land.

Real property shouldn't be confused with personal property, which encompasses all property that doesn't fit the definition of real property. The primary characteristic of personal property is that it's movable. Examples include vehicles, boats, furniture, clothing, and smartphones.

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Disclaimer: Certain loans not available where prohibited by law, or in states where Hawk Funding Group, LLC does not trade. Residential loans are available only on non-owner occupied real property. Information, rates, and pricing are subject to change without prior notice. All loans subject to borrowers and underlying collateral meeting Hawk Funding Group and/or assigns then-current underwriting criteria. Other restrictions apply.

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