| |
Real estate
is often considered synonymous with real property, in contrast with
personal property also sometimes called chattel or personality.
Real estate or immovable property is a legal term that encompasses
land along with anything permanently affixed to the land, such as
buildings. However, for technical purposes, some people prefer to
distinguish real estate, referring to the land and fixtures themselves,
from real property, referring to ownership rights over real estate.
The terms real estate and real
property are used primarily in common law, while civil law jurisdictions
refer instead to immovable property.
Real estate broker After gaining some years of
experience in real estate sales, a salesperson may decide to become
licensed as a real estate broker. Commonly more course work and
a broker's state exam on real estate law must be passed. Upon obtaining
a broker's license, a real estate agent may continue to work for
another broker in a similar capacity as before or take charge of
his/her own brokerage and hire other salespersons licensees. Becoming
a branch office manager may or may not require a broker's license.
Some states such as New York allow licensed attorneys to become
real estate brokers without taking any exam. In states, such as
Colorado, there are no "salespeople", as all licensees
are Brokers.
In law, the word real means relating to a thing
as distinguished from a person. Thus the law broadly distinguishes
between "real" property and "personal" property.
The conceptual difference was between immovable property, which
would transfer title along with the land, and movable property,
which a person would retain title to. The word is not derived from
the notion of land having historically been "royal" property.
The word royal and its Castilian cognate real come from the related
Latin word rex-regis, meaning king.
|
|
