Real Estate in Definitions:

Real Estate is Property Ownership!

Real estate may be defined as a landed property owned by an individual, family, partners or an organization.

The property may be as small as a small hut or as big as a country. It may be a space any where on this earth. Things are changing and to your surprise, you are offered a piece of land on the other planets like Moon or Venus.

The ownership is a right to live on, use it for any purpose, but the ultimate right rests only with the country’s Government.

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 and perennial vegetations.

Real estate is often considered synonymous with real property as ownership right. However, in some situations the term real estate refers only to the land and fixtures together with out mentioning the rights.

Definitions:

These are various interests that may limit the ownership rights one has over the land.

Fee simple:

The most common and perhaps most absolute type of estate is the fee simple which signifies that the owner has the right to dispose of the property as she/he sees fit.

Life estate and fee tail:

Other estates include the life estate where the owner's rights to the property cease at their death of the owner. And fee tail estates where the property at the time of death passes to the legal heirs like wife, husband or spouse, children, grand children, descendants of the deceased.

Own the right to use exclusively!

Individuals don't own their land, but only estates in the land, also known as "equitable interests", such as the transferable right to use and exclude others from use.

Supreme Owner!

In the law of almost every country, it is the state or Government that is the true owner of all land within its territory, because it is the sovereign or supreme lawmaking authority over it.