realties

Realties, or real property, refer to land and anything permanently attached to it, such as buildings and fixtures, together with the privileges, rights, and interests that accompany ownership. They are distinguished from personal property, which includes movable objects. The term realty is commonly used in legal contexts, particularly in the United States; more widely, real property or real estate is the standard term.

Real property encompasses not only the physical surface of the land but also associated rights such as subsurface and air rights, easements, covenants, and other interests that may be conveyed or encumbered. Ownership can be sole or shared and is typically protected by titles and land registries. Fixtures that are permanently attached to the land or structures usually pass with the realty unless there is an agreement to the contrary. Real property rights can be restricted by liens, mortgages, zoning laws, and other regulatory regimes.

Transactions involving real property include sale, purchase, lease, mortgage, and conveyance of title by deed. The transfer of ownership is usually evidenced by a title document and recorded in land registries or cadastres to establish clear ownership and priority of interests. Due diligence often involves title searches, property surveys, and examinations of liens or encumbrances.

Valuation of real property depends on factors such as location, size, use potential, zoning, infrastructure, and property condition, alongside market conditions and comparable sales. Regulatory frameworks governing real property vary by jurisdiction and cover planning, land use, environmental rules, and property taxation.

See also: real estate, property law, land registry, title deed, easement.