Real estate, or immovable property, is a legal term (in some jurisdictions) that encompasses land along with anything permanently affixed to the land, such as buildings. Real estate (immovable property) is often considered synonymous with real property (also sometimes called realty), in contrast with personal property (also sometimes called chattel or personalty). 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. Property law, the area of the common law that governs real property, differs from contract law in that it focuses primarily on rights that one person holds over all other people, as opposed to specific individuals.

Background

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In recent years, many economists have recognized that the lack of effective real estate laws can be a significant barrier to investment in many developing countries. In most societies, rich or poor, a significant fraction of the total wealth is in the form of land and buildings. In most advanced economies, the main source of capital used by individuals and small companies to purchase and improve land and buildings is mortgages -- bank loans for which the real property itself constitutes collateral. Banks are willing to make such loans at favorable rates in large part because if the borrower does not make payments the lender can foreclose, that is, file a court action that lets them take the property and sell it to get their money back. However, in many developing countries, there is no effective means by which a lender could foreclose, so the mortgage loan industry as such either does not exist at all or is only available to members of privileged social classes.

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Breaking News from The Birmingham News - al.com

Free health checks draw Birmingham children
cmccauley@bhamnews.com Sat, 06 Sep 2008 18:19:13 -0000
Parents enroll children for Birmingham Mayor Larry Langford's children's health insurance program at 'Doctor Day'Dozens of parents and children lined up early today for free child health screenings during "Take a Child to the Doctor Day" at Fair Park Arena. Wanda Harris of West End and her children Nakell, 3, and Joshua, 15, were among participants there before the doors opened, relieved for the chance to get free children's health and dental screenings. It was their second year to attend the event. "I'm here to get the different exams the kids need, that I can't afford," said Harris, who has no health insurance. "It feels great not to have a bill coming in the mailbox." The fourth annual children's health event was sponsored by the city of Birmingham's Division of Youth Services, in cooperation with health care professionals from University of Alabama at Birmingham, Children's Hospital and the Jefferson County Department of Health.
Avondale glass artist wins Artwalk competition
cmccauley@bhamnews.com Sat, 06 Sep 2008 21:11:36 -0000
Glass artist Zachary Wickham of Avondale won first place in the juried art show of Birmingham's fourth annual Artwalk, an arts and craft show and exhibition that continues downtown through 6 p.m. today. More than 100 artists from the area and the region are showcasing their work at lofts and downtown businesses on Morris Avenue and First and Second avenues North between 21st and 24th streets. Admission is free.
Sunshine breaks through clouds for Birmingham Artwalk participants
cmccauley@bhamnews.com Sat, 06 Sep 2008 18:20:09 -0000
The morning mist in the Birmingham area has subsided, providing participants strolling in and out of downtown businesses and offices at Birmingham Artwalk occasional rays of sunshine as the clouds drift slowly. Skies will remain mostly cloudy this afternoon, the National Weather Service said. There is a slight chance of showers, about 20 percent, the forecast says. Temperatures will be in the low 80s. It will be clear tonight with temperatures in the upper 60s, the weather service said. The Artwalk, featuring paintings, sculptures, jewelry and other arts and crafts from more than 100 artists, is under way until 6 p.m. on Morris Avenue and First and Second avenues between 21st and 24th streets. It includes children's activities, live music, and food and drinks.

Breaking News from the Press-Register - al.com

Road and bridge construction to begin soon on Baldwin County 13, east of Fairhope and Daphne, Alabama
rhenderson@press-register.com Sat, 06 Sep 2008 20:47:04 -0000
In early September one year ago, Auburn University shut down a planned 3-mile extension of Baldwin County 13 because it would destroy several acres of wetlands as it passed across university property. Now, after going back to the drawing board several more times, the road's construction is expected to begin within a month or so, county officials said last week. Instead of filling those acres of Fly Creek wetlands, a 720-foot bridge will span them almost completely. (For a complete report, read Sunday's Baldwin Register.)
Baldwin County to cancel Lillian to Pensacola bus route
vbridges@press-register.com Sat, 06 Sep 2008 20:07:40 -0000
Baldwin County officials announced this week that the Lillian to Pensacola bus route will be cancelled on Sept. 30. The service kicked off in April 2007. It was meant to provide Lillian residents transportation to Pensacola once a week. Initially the bus made three round trips to stops in Baldwin and Escambia County, Fla. for $1.50 one way. Taylor Rider, director of the Baldwin Rural Area Transportation System, said that the service only had one or zero riders. In April, the county downgraded the service from a fixed route to one in which people would call at least a day before to arrange a ride. "As of (Friday), we have not had one call requesting a trip," Rider said. (For a complete report, see Sunday's Baldwin Register.)
Baldwin County disaster relief agencies prepare for Ike
gbusby@press-register.com Sat, 06 Sep 2008 20:08:36 -0000
As evacuees from Hurricane Gustav headed back to Louisiana, Baldwin County community service agency members prepared for a possible landfall from Hurricane Ike. Ann Ryals, director of the Baldwin County Emergency Management Agency, told members of Volunteer Organizations Active in Disaster, a network of relief agencies, that while some forecasts had called for Hurricane Ike to move north in the Atlantic, the Friday projection moved the storm into the Gulf of Mexico around Wednesday. Kelly Childress, acting VOAD chairwoman, said agencies and residents should be prepared to face the demands of another storm. In moving trucks, trailers and other VOAD equipment to a central warehouse, members found that tires were flat and other maintenance was needed since the equipment had been purchased following Hurricane Ivan in 2004. Hurricane Ike was projected to move into the Gulf of Mexico on Monday. During and following Hurricane Gustav, VOAD agencies provided relief to more than 100 evacuees who came to Baldwin County. By Friday, most of the evacuees had returned home, organization members said. (For a complete report, read Sunday's Baldwin Register.)

Breaking News from The Huntsville Times - al.com

Saturday's weather forecast
ronnie.white@htimes.com Sat, 06 Sep 2008 10:18:32 -0000
Saturday: Partly cloudy, with a high near 88. Calm wind becoming northwest around 5 mph. Saturday Night: Mostly clear, with a low around 65. North wind around 5 mph. Sunday: Sunny, with a high near 90. Northeast wind around 5 mph. Sunday Night: Mostly clear, with a low around 63. North wind around 5 mph becoming calm. Monday: Sunny, with a high near 91. Monday Night: Partly cloudy, with a low around 66. Tuesday: A 20 percent chance of showers and thunderstorms. Partly cloudy, with a high near 87. Tuesday Night: Partly cloudy, with a low around 64. Wednesday: Mostly sunny, with a high near 88. Wednesday Night: Partly cloudy, with a low around 66. Thursday: Partly sunny, with a high near 88. Thursday Night: A 20 percent chance of showers and thunderstorms. Mostly cloudy, with a low around 67. Friday: A 30 percent chance of showers and thunderstorms. Mostly cloudy, with a high near 84.
Friday's lottery numbers
ronnie.white@htimes.com Sat, 06 Sep 2008 10:19:06 -0000
Friday's drawings Tennessee Cash 3 midday: 2-1-0 Cash 4 midday: 9-1-8-3 Cash 3 evening: 6-6-5 Cash 4 evening: 5-3-4-7 Pick 5: 2-5-6-37-38 Lotto Plus: 2-10-11-14-28-41, Plus: 2 Florida Cash 3 midday: 6-6-6 Cash 3 night: 9-7-5 Play 4 midday: 0-2-9-3 Play 4 night: 9-0-7-6 Fantasy 5: 18-15-4-22-1 Mega Money: 4-24-32-39 Mega Ball: 17 Georgia Cash 3 midday: 3-5-3 Cash 4 midday: 3-4-4-8 Cash 3 evening: 0-9-4 Cash 4: 8-2-9-1 Fantasy 5: 1-19-27-32-35 Mega Millions: 1-6-15-27-46 Mega Ball: 39
Saturday's Huntsville police blotter
ronnie.white@htimes.com Sat, 06 Sep 2008 10:17:57 -0000
Unless otherwise noted, the following incidents were reported to Huntsville police Thursday and Friday. In items with incomplete addresses, police withheld the information: North precinct • Police discovered a Lipton Green Tea bottle that had been used to smoke drugs at Lee High School, 606 Forrest Circle, at 8:15 a.m. Friday. • A 45-year-old woman was assaulted and robbed on Swaim Circle near Winchester Road at 10:30 a.m. Thursday. The robber, who was driving a green four-door car with driver's side damage, took the woman's purse and cell phone. • A burglar broke into a home in the 2400 block of Shepherd Drive Thursday and stole a flat-screen TV, a push mower, a PlayStation 2 and 3, a large green trash can with wheels and two lawn chairs. • Police recovered 40 counterfeit purses, 34 counterfeit pairs of sunglasses, 872 bootleg DVDs, 795 bootleg CDs, a six-tower DVD burner, 150 master copies of CDs, 53 master copies of DVDs and 126 blank discs from a Winchester Road home. • A burglar broke into a convenience store at 404 U.S. 72 W. at 6:15 a.m. Friday and stole an unknown amount of Budweiser beer. • The driver of a 1997 red Oldsmobile Aurora tried to flee from police and didn't stop for a train at Oakwood Avenue and Kildare Street at 10 a.m. Thursday. South precinct • A 34-year-old man was assaulted at the Greyhound bus station, 601 Monroe St., at 11 a.m. Thursday. Police believe the offender had been using drugs. • A Huntsville police patrol car was damaged on West Haven Drive at 4 a.m. Aug. 2. The damage to the hood, trunk and roof is believed to be accidental. West precinct • A 1991 blue Chrysler Imperial was stolen in the 3800 block of Bob Wallace Avenue overnight Wednesday. • A 12-year-old girl was assaulted at Westlawn Middle School, 4217 Ninth Ave., at 2:30 p.m. Tuesday. • Two bags of potato chips and a Natural Light beer were stolen from a parking lot at 2401 Governors Drive at 6:30 p.m. Thursday. • A .38-caliber revolver was stolen from a 2002 GMC Sonoma in the 3700 block of Lady Banks Lane between Monday and Thursday afternoons. • A 1990 blue Honda Accord was stolen from a convenience store in the 4200 block of Bob Wallace Avenue at 6:50 p.m. Thursday. • A 36-year-old woman was assaulted at 4001 University Drive at 6 a.m. Friday. The suspect was driving a red Chevrolet Cavalier. • An undisclosed amount of cash was stolen from Redstone Federal Credit Union, 220 Wynn Drive, between March 28 and April 10. • A 1998 hunter green Saturn with a cracked windshield was stolen on Penny Street overnight Thursday. • About $150 worth of gas and $3,000 worth of diamond drill bits were stolen from Tennessee Valley Fence, 1035 A Cleaner Way, between November 2007 and Thursday. • A burglar broke into a home in the 1700 block of Carson Lane early Friday and stole a $2,500 flat-screen TV, a $250 camcorder, a $20 computer keyboard and $50 in quarters. • A 1991 silver Infinity M30 was stolen on Joslin Street overnight Thursday.

montgomeryadvertiser.com - News

Obama picks Biden for veep
Sat, 23 Aug 2008 01:21:00 -0600
WASHINGTON -- Barack Obama selected Sen. Joe Biden of Delaware late Friday night to be his vice presidential running mate, according to a Democratic official and several news outlets including CNN and The New York Times.

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