On this page you will find a general overview of what real estate is and some links and articles to Arizona real estate law.
Real Estate Overview
What is real estate?
According to Investopedia Real estate, sometimes referred to as real property, is defined as “the land and any permanent structures, like a home, or improvements attached to the land, whether natural or man-made. Real estate differs from personal property, which is not permanently attached to the land, such as vehicles, boats, jewelry, furniture, and farm equipment.
The terms land, real estate, and real property are often used interchangeably, but there are distinctions.
Land refers to the earth’s surface down to the center of the earth and upward to the airspace above, including the trees, minerals, and water. The physical characteristics of land include its immobility, indestructibility, and uniqueness, where each parcel of land differs geographically.
Real estate encompasses the land, plus any permanent man-made additions, such as houses and other buildings. Any additions or changes to the land that affects the property’s value are called an improvement.
Once land is improved, the total capital and labor used to build the improvement represent a sizable fixed investment. Though a building can be razed, improvements like drainage, electricity, water and sewer systems tend to be permanent.
Real property includes the land and additions to the land plus the rights inherent to its ownership and usage.”
If you’re like most people, your home and other real estate are your most valuable assets. Unfortunately, even if you’ve done everything possible to protect yourself, that asset can sometimes turn into a legal nightmare. If you own a business, real estate issues can spell the end of it. Having a real estate lawyer on your side can help you avoid potential problems or resolve existing disputes before the situation becomes hopeless.
Arizona Real Estate Law
What is the law of real estate or real property?
In the United States, every state has exclusive jurisdiction over the land within its borders. Each state has the power to determine the form and effect of a transfer of real property within its borders. Modern statutes have eliminated much traditional concern over the proper conveyancing of real property, the grantor, that the deed take effect as a conveyance. The deed must be recorded to give notice as to who legally holds title to the property. From Legal dictionary.