By now all of you must be aware that real estate is a legal term in some of the jurisdictions, notably that of UK, USA, Australia and Canada. The term ‘real estate’ is often regarded synonymous real property, also known as ‘realty’ and lies in absolute contrast to that of personal property, also known as ‘personalty’ under personal property law.
According to the UK real estate terminology and practice, the phrase ‘real estate’ is most often used in the context of probate law and generally refers to all sorts of interests held by a deceased person over a land at his/her death. Again the real estate terminology and practice as seen in Mexico and Central America is very different from that of United States.
Real estate mortgage is experiencing a boom in the recent years as many economists hold the view that the lack of effective property laws can act as a significant barrier to the act of investment in many developing nations. On the other hand, in the advanced economies, the small companies and individuals makes the usage of mortgage loans as the main source of capital to purchase land and buildings.
With a boom in the real estate market, the real estate agents are also doing good business, especially the ones who have in-depth knowledge and a competitive track record. The real estate companies are also providing diverse range of real estate consultancy services like plot dealings, selling of home and agricultural lands at the most competitive prices. All in all, the real estate market will continue to create waves in the approaching times.