Why the term “Immovable Property” is not used instead of “Real Estate”?
Why the term “Immovable Property” is not used instead of “Real Estate”?
As far as I know the meaning of "real" derives from "royal" and as we all know today, not much royal estate left around the world. So why not use the term IMMOVABLE PROPERTY instead of the unclear REAL ESTATE? Why do they use the term real estate? As in Royal Estate? Estate is like a huge house(s) or a set of buildings with (high) acreage and are usually well taken care of. Only 1% rich can afford it, while immovable property (house, flat, land, even a studio apartment etc.) can be bought by anyone and it does not state it's "royal" or "real" because everything is real, so no need to add that word "real". Is there unreal estate? Unreal property? There is movable and immovable property and why not use the term IMMOVABLE PROPERTY more than REAL ESTATE.
Gourmet Coffee Beans
March 10th, 2009 - 15:32
Lavender Bath Salts
Why change the term? There isn’t property called unreal per say, but other types of property are personal property and intangible property (ie patents, copyrights, etc). Estate doesn’t have to be large. Estate just means the property belonging to someone. For example, someone dies and they leave property (real and personal) behind. The property might not be worth very much, but it will still be called a decedent’s estate. Another example is a Bankruptcy Estate. Often times there is hardly any property in a bankruptcy estate (not the smartest idea to file bankruptcy if you have a lot of property), but it’s an estate of property (if any) administered by the bankruptcy trustee. It doesn’t have anything to do with there being a huge house, or any real estate at all. it is the property owned by the trustee/debtor (in a bankruptcy).
I don’t think you really understand what an estate is.