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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L.A. Times - Latin America

State senator seeks legal opinion on LPGA's language policy
Thu, 04 Sep 2008 23:42:00 -0700
Sen. Leland Yee (D-San Francisco) says English requirement is 'an absolute slap in the face of women, minorities, immigrants.' A California state senator said Thursday that he was seeking a legal opinion to determine whether the LPGA Tour's language requirement for players violates state or federal law.
LAX tightens security measures after alleged smuggling
Fri, 05 Sep 2008 00:00:00 -0700
Airport and federal officials have made adjustments in the international terminal after an elevator mechanic was arrested on suspicion of helping illegal immigrants enter the country. Airport officials and federal authorities said Thursday that they have tightened security at Los Angeles International Airport because of the recent arrest of an elevator mechanic suspected of smuggling illegal immigrants into the United States.
World Briefing
Fri, 05 Sep 2008 00:00:00 -0700
China: Quake-hit schools were poorly built / Mexico: Three held in beheadings / Russia: Army kills 5 Muslim rebels in Dagestan Schools were poorly built
San Diego officer accused of helping drug traffickers
Thu, 04 Sep 2008 08:19:00 -0700
Federal officials say Juan Hurtado Tapia shared information about drug investigations with traffickers along the U.S.-Mexico border. A San Diego police officer has been arraigned in federal court on charges of passing information about drug investigations to drug traffickers.
Immigrants squeezed as Spain's boom turns to bust
Thu, 04 Sep 2008 00:00:00 -0700
The downturn, strikingly similar to the one in the United States, has thrown tens of thousands of recent arrivals out of work. Lured by the promise of wealth in a booming economy, immigrants from North Africa, Latin America and other regions flocked to Spain in the last decade, quickly becoming Exhibit A in the Mediterranean nation's remarkable success story.
LAX employee arrested in alleged human smuggling plot
Thu, 04 Sep 2008 00:00:00 -0700
Federal officials say the man is seen on tape guiding Mexicana passengers out of the airport, avoiding immigration and customs inspectors. They believe he is part of a larger smuggling operation. A longtime elevator mechanic at Los Angeles International Airport has been charged with smuggling illegal immigrants into the United States by leading them out of the terminal before they were inspected by federal authorities.

UN News Centre - Americas

Emergency aid expected to reach stranded Haitians, says UN agency
Thu, 04 Sep 2008 00:00:00 -0500
The United Nations food agency expects to be able to send emergency assistance today to Haitians stranded in the flooded northern city of Gonaïves, which was battered by Tropical Storm Hanna on Monday night.
Floating clinic brings vital health care to Ecuador's refugee communities - UN
Wed, 03 Sep 2008 00:00:00 -0500
Isolated communities living in northern Ecuador are now able to receive urgently-needed health care thanks to a new floating clinic launched with the help of the United Nations refugee agency.
Ban sounds note of anxiety over Haiti's continued instability
Wed, 03 Sep 2008 00:00:00 -0500
Efforts to stabilize Haiti have suffered serious setbacks in the past six months as a result of ongoing political disturbances, the delay in selecting a new prime minister and spiralling food prices, Secretary-General Ban Ki-moon says in a new report.

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