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Real estate refers to land, buildings, and natural resources such as crops, minerals, and water; immovable property of this nature; an interest vested in this (also) an object of real property, (more broadly) buildings or housing in general. Real estate is different from personal property, which is not permanently attached to the land, such as vehicles, boats, jewelry, furniture, tools, and the rolling stock of an agricultural farm.
Residential real estate may be a single-family or multifamily unit that is available for occupation or non-commercial use. The way that residences are related to neighboring residences and land can be used to classify them. For the same physical form, different types of housing tenure may be used. Related residences, for example, may be owned by one person and rented out, or they could be owned separately with an arrangement covering the relationship between units and common areas and concerns. Major types of residential real estate include attached or multi-unit dwellings (such as apartments, terraced houses, condos), semi-detached dwellings (duplex), detached dwellings (detached house), and portable dwellings (such as mobile homes, houseboats, tents). Other types include chawls, villas, and Havelis. An apartment or house's size is measured in square feet or meters.
A contract is a legally binding document specifying and regulating the rights and obligations of the parties to a signed agreement between at least two parties. Browse through a collection of professional Real Estate Contract templates that have been designed just for you.