Real property is a type of property that includes land, houses, buildings and infrastructure in land. It is one of two types of property that one can own, and the other is personal property.
Residential real estate may contain either a single family or multifamily structure that is available for occupation or for non-business purposes.
Real estate is different from personal property, which is not permanently attached to the land, such as vehicles, boats, jewelry, furniture, tools rolling stock of a farm and other valuable items.
Non-residential real estate can be classified according to use, such as:
- Commercial (used for business activities)
- !ndustrial (used for manufacturing or storage purposes)
- Agricultural, encompassing land used for farming or livestock
Real estate can also be used for buying and selling land and buildings to try to make a profit.
