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

---

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.

More on [ Real estate ]

News/wyoming from casperstartribune.net

Two deer test positive for chronic wasting disease
Tue, 14 Oct 2008 20:46:25 -0600
SHERIDAN -- Two hunter-harvested buck mule deer in northeast Wyoming have tested positive for chronic wasting disease, according to the Wyoming Game and Fish Department.
HD 12 candidates disagree on statewide smoking ban
Tue, 14 Oct 2008 20:46:25 -0600
The state needs to conduct a vigorous campaign to find out why people who are eligible for existing property tax relief programs aren't using the programs fully, says Amy Edmonds, a Republican seeking a second term in the Wyoming House.
Carbon Co. sets tone for wind projects
Tue, 14 Oct 2008 20:46:25 -0600
RAWLINS, Wyo. -- Carbon County is becoming the energy epicenter of Wyoming and is leading the way in how it handles development of wind projects, Tom Schroeder of the state Industrial Siting Council says.
Former rail exec: Expansion is needed
Tue, 14 Oct 2008 20:46:25 -0600
YANKTON, S.D. (AP) -- The man who used to run the Dakota, Minnesota and Eastern Railroad says he thinks a proposed $6 billion expansion to build track into Wyoming coal fields and haul coal east should still happen.
Lawmakers will meet on wolf issue
Tue, 14 Oct 2008 20:46:25 -0600
CHEYENNE -- Wyoming lawmakers, many openly expressing frustration with the federal government, plan to meet this week to discuss how the state should proceed on wolf management.
Gov calls for revision of federal law
Tue, 14 Oct 2008 20:46:25 -0600
LANDER -- Wyoming Gov. Dave Freudenthal is once again calling on federal lawmakers to rework a rule that lets agencies bypass painstaking environmental studies in order to fast-track oil and gas drilling.

Subscribe to Wyoming RSS feed