A good is considered to be real estate when it is not possible to transfer it from one site to another. For example a house is a real estate. In other words a real estate is attached to the ground where it is located. For this reason they are also designated as real estate .
As the name implies, a real estate must give us the pattern that it is a type of immovable property, that is, it cannot be moved without causing partial or total damage to it.
Important distinction about the term
It is important to clarify that although the term real estate is considered to be the land or land this term, in general terms, is used to designate those constructions that are found as real estate built on said land, for example, a factory, a premises, a housing, etc.
In the following sentence we can see how this term is used correctly:
“ This property presents high-class details: Jacuzzi with whirlpools, underfloor heating in each room, bedroom suite and utility room with separate entrance .
Legal conditions of real estate
From the legal point of view it is important to indicate that all real estate must be registered in a registry called “property registration ”. Also, in cases of mortgages, these types of assets are those used for such purposes.
From the point of view of tax law, each property needs to pay certain taxes. These can be: taxes on the land and its value, on income, on the size of the property, etc.
There is a tax called ” real estate tax ” ( IBI ). Said tax must be paid obligatorily to the entity or institution that regulates and collects said tax. This regulatory body may be a municipality the State.
This tax does not arise randomly, but rather is calculated in proportion to the assessed value of said asset.
Taxes are determined by each country, nation or state .
Indivisible property property
It is important to clarify that these types of goods are not only inseparably linked to the ground or subsoil, but are also legally linked. That is, if we have a specific land in our name and we want to build a house (for example), once it is finished it will be recorded as our property, unifying together with the land.
Types of real estate
There is a distinction as to the type of goods. These might be:
- Goods by nature (soil or subsoil)
- Assets by incorporation (it is the case of the constructions)
- Goods by destination (they are goods that are used, for the benefit of the property. For example tools for tilling the land).
- Goods by analogy (are mortgages).
- Assets by accession (in the case of doors, windows, kitchen appliances, bathtub or tub that although they are movable property, are embedded within the real estate and become part of it).
- Assets by representation (it is considered a real estate by representation to the documents that prove that said real estate belongs to a person or group of people, for example a property is accredited by the title deed).
It is important to make a clarification and distinction of great importance. Although we have already mentioned the characteristics of movable and immovable property there is a case in which it is important to stop to make a clarification: in cases where an apartment (apartment) is generally furnished it meets such furniture such as the refrigerator, the kitchen, tables, chairs, furniture, etc. These types of goods are considered part of the real estate. In other words, these become part of the property even if they are strictly speaking movable property.
Examples of real estate
- Land (regardless of its extension)
- Apartment (can be the entire building or just an apartment)
- Title deeds