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  - General Real Estate Related Questions
     
  What is "Immovable Property"?
  What is "Real Estate"?
 
  What is a "Realtor"?
  What is a "Realty"?
  What is a "Real Property"?
  How much land is in one acre?
  What does "FSBO" mean?
  What is an "Agent"?
  What is a "Broker"?
  What is a "Buyer's Agent"?
  What is a "Closing"?
  What is "Equity"?
  What is a "Home Warranty"?
  What is "Principal"?
  What is a "Multiple Listing Service (MLS)"?
  What is "Title Insurance"?
  What is "Zoning"?
     
   

Answers

            What is "Immovable Property"?
            Immovable Property is Real Estate (immovables) in other words. Immovable Property is:

Immovable object, real estate, item of property. Includes premises, and property rights (for
example, heritable building right), houses, land and associated goods and chattels.

In all the civil law*** systems, immovable property is the equivalent of "real property" in common
law systems, i.e. it is land or any permanent feature or structure above or below the surface.

In the United States, immovable property is any immovable object, real estate, item of property
that can not be moved. Includes premises and property rights (for example, heritable building right),
houses, land and associated goods and chattels. They are located in and have a fixed address.

Immovable Property is a real term as opposed to, for instance, Realtor(TM). Realtor(TM) is
a commercial term, not a real word.
"Immovable Property" is immovable both physically and
legally (by law). You can not alter (remodel, add to, reconstruct) an immovable property without
entering into an agreement with and getting a permission from it's owner and (if you are the owner
of the object of immovable property) without getting all the construction, addition or remodelling
permits from your local authority.

Immovable Property includes land, building, hereditary allowances, rights to ways, lights, ferries,
fisheries or any other benefit to arise out of land, and things attached to the earth or permanently
fastened to any thing which is attached to the earth but not standing timber, growing crops nor grass.
Even a right to collect rent, life interest in the income of the immovable property, right of way, a ferry,
fishery, a lease of land.

In other words, Immovable Property is:

Any land or any building or part of a building, and includes, where any land or any building or part of a

building is to be transferred together with any machinery, plant, furniture, fittings or other things, such
machinery, plant, furniture, fittings and other things also.

Any rights in or with respect to any land or any building or part of building (whether or not including any

machinery, plant, furniture, fittings or other things therein) which has been constructed or which is to be
constructed, accruing or arising from any transaction (whether by way of becoming a member of, or
acquiring shares in, a co-operative society, or other association of persons or by way of any agreement
or any arrangement of whatever nature, not being a transaction by way of sale, exchange or lease of
such land, building or part of a building.

***/ Civil law or Continental law or Romano-Germanic law is the predominant system of law in the world.

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            What is "Real Estate"?
            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. Civil law is the predominant system of law in the entire world.

Immovable Property in various languages:

Arabic: ????????? ??? ????????
Bulgarian: ????????? ?????????
Croatian:
nepokretne imovine
Czech:
nemovitý majetek
Danish:
fast ejendom
Dutch:
onroerend goed
Finnish:
kiinteän omaisuuden
French:
immobilier; biens immobiliers
German: immobilien
Greek:
a????ta
Italian:
immobili; beni immobili
Japanese:
???
Korean: ???
Lithuanian: nekilnojamas turtas; nekilnojamasis turtas; nejudamas turtas
Norwegian:
ubevegelig eiendom
Polish:
nieruchomosc
Portuguese:
imóveis; imóvel
Romanian:
imobiliare; bunuri imobiliare
Russian:
?????????? ?????????
Spanish:
inmueble; bienes inmuebles
Swedish:
fastighetsförvärv

Real Estate in various languages:

Arabic: ????????
Bulgarian: ????????? ?????
Croatian: ---
Czech:
realitní
Danish: ---
Dutch:
onroerend goed
Finnish:
kiinteistönvälittäjät
French:
immobilier
German: immobilien
Greek:
a????t??
Italian:
immobiliare
Japanese:
????
Korean: ???
Lithuanian: tikrasis turtas
Norwegian:
eiendomsmegling
Polish:
nieruchomosc
Portuguese:
imobiliária
Romanian:
imobiliare; bunuri imobiliare
Russian:
????????????
Spanish:
inmobiliario
Swedish:
fastigheter

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            What is a "Realtor"?
            Realtor is a U.S. registered collective membership mark identifying a real estate broker or immovable property
agent who is a member of the National Association of Realtors and subscribes to its code of ethics. Although
the term Realtor is sometimes used interchangeably with real estate broker or immovable property agent, its
use is reserved for active members of NAR. All Realtors (Immovents; Immovers) possess some kind of real
estate (immovable property) license, but not all licensees are Realtors. New or alternative term for a Realtor
also is Immovent (Immovable Property Agent) or Immover (Immovable Property Broker). Therefore a Real
Estate Agency is now also called Immovency (Immovable Property Agency) and a Real Estate Brokerage
(Firm) is now also called Immovage or Immofirm.

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            What is a "Realty"?
            Real estate (immovable property) is often considered synonymous with real property (also sometimes called realty), therefore Realty is a brief term for real property.

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            What is a "Real Property"?
            Real property is a legal term encompassing real estate and ownership interests in real estate (immovable property). It is a type of property differentiated from personal property. This article discusses the ownership of land using the interpretation of real property as a legal term used in Anglo-American common law jurisdictions. Other legal geopolitical systems of government have different legal interpretations concerning the ownership of land. Terminology varies in these systems, as well: for instance, heritable property in Scotland; immovable property in Canada, United States, India, Malta, Cyprus, most of Europe including Russia, also South America, Malaysia, South Africa, Pakistan, Bangladesh, and many other countries and continents; and immobilier in France. Real property (literally "immovable property") term used in some countries of the world: Germany - immobilien; Russia - n'edvizhimost'; China - bu dong chan; Japan - fudousan; Lithuania - nekilnojamasis turtas; Poland - nieruchomosc. Translated into English most these terms literally mean "immovable property".

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            How much land is in one acre?
            An acre is an area of land equal to 43560 square feet. One square mile is equal to 640 acres. One acre is
equal to 40 ares or to 0.4 hectare (ha).

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            What does "FSBO" mean?
            FSBO means for sale by owner.

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            What is an "Agent"?
            An Agent is a person authorised to work on another person’s behalf. For instance, a person authorised
to sell or buy a house on your behalf.


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            What is a "Broker"?
            Broker is an agent who is authorised to open and run his or her own immovable property (real estate)
agency. All real property offices have one principal broker.

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            What is a "Buyer's Agent"?
            A Buyer's Agent is an agent hired by buyers to help them find and negotiate the purchase of a home. This
agent works for the best interests of the buyers, not the sellers.
On most transactions, there is usually a
listing agent and a selling agent. The selling agent is sometimes referred to as the buyer's agent, because
s/he works on the buyer's behalf and it easier than explaining each time that the "selling agent" is not the
listing agent and is actually the buyer's agent.


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            What is a "Closing"?
            Closing is the process of finalising all the dealing associated with the sale and purchase of a home. Also
known as a settlement.

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            What is "Equity"?
            Equity is the financial interest or cash value of your home, minus the current loan balance(s). If selling the
home, this would also be minus any costs incurred in selling the home.

If you're buying a home and don't have very much money for the down payment, you may want to find out if
the seller would be interested in "sweat equity".  This would allow you to perform the labor on any needed
repairs and maintenance to the home, such as outside repairs, painting or electrical work, in exchange for
credit towards closing costs.


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            What is a "Home Warranty"?
            A home warranty is a guarantee for certain features of a new home. For instance, the materials and
workmanship, the main components of the house etc.

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            What is a "Principal"?
            Principal is the original amount of a debt on which interest is calculated. In other words: Principal is the amount of money borrowed and still owed on a loan not including the interest.

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            What is a "Multiple Listing Service (MLS)"?
            Multiple Listing Service is:

A facility for the orderly correlation and dissemination of listing information among
Participants so that they may better serve their clients and customers and the public;

A means by which authorized Participants make blanket unilateral offers of compensation to other
Participants (acting as sub-agents, buyer agents, or in other agency or non-agency capacities defined
by law);

A means by which information is accumulated and disseminated to enable authorized Participants to
prepare appraisals and other valuations of immovable property;

A means by which Participants engaging in immovable property (real estate) appraisal contribute to
common databases.

In other words: a multiple listing service is a computerized listing of the homes and land for sale in an
area listed with a realtor (immover). Agents are granted access to the MLS and can use it to find a house
in a particular price range or area.

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            What is "Title Insurance"?
            Title insurance is insurance that protects the lender and the buyer against any losses incurred from
disputes over the title of a property.

In other words:
A policy of title insurance is a contract of indemnity between the insurance company and
the owner of an interest in real property. In plain English, this means that in the event that the insured owner
of an interest in the insured property suffers an actual or threatened monetary loss, due to a title defect, lien
or other matter of public record created prior to the effective date of the policy, that is not excluded as an
exception to the policy, the title insurer will defend the insured against a lawsuit attacking the title, or
reimburse the insured for the actual monetary loss incurred, up to the dollar amount of insurance provided
by the policy. Typically the immovable property interests insured are fee simple ownership or a mortgage.
However, title insurance can be purchased to insure any interest in immovable property, including an
easement, lease or life estate.

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            What is "Zoning"?
            In general, zoning is the division of an area into sub-areas, called zones. This article primarily concerns
zoning in its urban planning iteration.

Zoning is a system of land use regulation which designates the permitted uses of land based on mapped
zones, which separate one part of the community from another. Zoning regulations fall under the police
power rights governments may exercise over real property. Theoretically, its primary purpose is to segregate
uses that are thought to be incompatible. In practice, zoning is used as a permitting system to prevent new
development from harming existing residents or businesses. Zoning is commonly controlled by local
governments such as counties or municipalities.

Zoning commonly includes regulation of the kinds of activities which will be acceptable on particular lots
(such as open space, residential, agricultural, commercial or industrial), the densities at which those
activities can be performed (low density housing such as single family homes to high density such as
apartment buildings), the height of buildings, the amount of space structures may occupy by limiting how
close a building may be from the edge of the lot, the proportions of the types of space on a lot (for example,
how much landscaped space and how much paved space), and how much parking must be provided.

Most zoning systems have a procedure for granting variances - exceptions to the zoning rules, usually
because of some perceived hardship due to the particular nature of the property in question.

In other words: Zoning is the laws that establish how a property can be used and what codes must be

followed when erecting new buildings.

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