property & real estate law

real estate

Real estate is a piece of land, including any artificial or natural property permanently attached to it, above or beneath, such as a house, a building, a tree, or minerals. Personal property like vehicles is not part of real estate. The owner...

real estate agent

A real estate agent is a person who has obtained a professional license to act as a salesperson in the business of selling, buying, and renting real estate such as houses, buildings, and offices. A real estate agent may represent the seller,...

real estate broker

A real estate broker is a person who has obtained a professional license to directly act as an intermediary in the business of selling, buying, and renting real estate such as houses, buildings, and offices. The main difference between a real...

real estate investment trust (REIT)

A Real Estate Investment Trust (REIT) is a company that invests in income-generating real estate. REITs are held by shareholders, who receive dividends from the various real estate investments that the company makes. One main draw for investors to...

real estate transactions

Real estate transactions are regulated by a wide body of federal statutes, and a combination of state statutes and common law. The requirements established by state law often differ significantly from one state to another.

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real party in interest

A real party in interest is the person or entity who has the right to bring suit even though someone else would ultimately benefit from the suit if it is successful. For example, in In re. Semgroup Corp., a Texas Court of Appeals case, a widow and...

real property

Real Property (Land Law) Overview

Property signifies the legal right of use, control, and disposition that an individual or entity may lawfully exercise over things, objects, or land. One of the basic dividing lines between property is that...

realization of gain

Realization of gain is when an asset is sold at a price higher than its adjusted cost basis. Section 1001 of the Internal Revenue Code states that the gain from the sale of property is the “excess of the amount realized therefrom over the...

realtor

Any individual in the business of real property sales who belongs to the National Association of Realtors. Realtor can include both real estate agent or real estate broker, but a real estate agent or broker is not necessarily a realtor.

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realty

See real property.

[Last updated in March of 2024 by the Wex Definitions Team]

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