What is Real Estate?How can one start the real estate investment?

Real Estate
I INTRODUCTION

Real Estate, in broad definition, land and everything made permanently a part thereof, and the nature and extent of one's interest therein. In law, the word real, as it relates to property, means land as distinguished from personal property; and estate is defined as the interest one has in property.

Real estate may be acquired, owned, and conveyed (or transferred) by individuals; business corporations; charitable, religious, educational, fraternal, and various other nonprofit corporations; fiduciaries, such as trustees and executors; partnerships; and generally by any legal entity as determined and defined by the laws of the various states of the U.S. Limitations are established in connection with sales of real estate by minors, incompetents, and certain types of corporations, and generally in cases involving some form of legal disability or lack of capacity. In such instances, it is necessary in some jurisdictions to make application to the courts for permission to sell; in other jurisdictions such transfers are governed by statute.

Real property is generally acquired by purchase, by descent and devise, or by gift. When acquired by purchase, a deed is given by the seller, or grantor, to the purchaser, or grantee. The deed contains a legal description of the property conveyed; it must be drawn, executed, and acknowledged in proper form to be entitled to record. It is customary for the seller and the purchaser to enter into a contract, at which time the purchaser makes a deposit on account of the purchase price. The purchaser engages an attorney or a title company to search the title to the property. The title company ensures that the seller can convey clear title. The transaction is then closed; that is, the property title is transferred and the balance of the purchase price is paid. See also Torrens System.

When an owner of real property has died intestate, or without leaving a will, title to the property is said to pass by descent to the heirs; when he has died testate, or leaving a will that has been probated, the property passes by devise to the person or persons so designated in the will.

Transfer of real property by gift, as, for instance, to churches, educational institutions, or fraternal orders, is easily accomplished merely by the execution and delivery of a deed.

The greatest and most extensive interest that may be acquired in realty is described in law as a fee interest, a term that implies a proprietary ownership, free and clear of conditions. Fee interest is the most common form of ownership; with certain exceptions, private homes, apartment buildings, factories, office buildings, and similar properties are owned in fee.

II THE CONDOMINIUM CONCEPT

Condominium ownership, which was introduced in the U.S. in 1961 and has since been widely adopted, implies separate ownership of individual apartments or units in a multiunit building. The purchaser of a condominium becomes the owner of a particular unit and of a proportionate share in the common elements and facilities. The unit may be separately mortgaged; the owner pays taxes and a fixed monthly sum to maintain the common elements. In the sale of a unit, the seller executes and delivers to the buyer a deed conveying all right, title, and interest in and to the entire condominium as well as the particular unit.

III COOPERATIVE OWNERSHIP

Cooperative ownership, which on the surface seems similar to condominium ownership, is in fact quite different. In cooperative ownership, title to the multiunit building usually is vested in a corporation. The purchaser of an apartment or a unit actually buys stock of the corporation; in addition to a stock certificate, a cooperative member receives a lease to the apartment, in which he or she is named lessee.

As a holder of stock, each cooperative member has an ownership interest in the corporation, which in turn owns all the units and common areas. Each tenant pays to the corporation a fixed rent, which is applied to the payment of a single blanket mortgage and real estate taxes covering the entire building, and to the payment of insurance premiums and maintenance costs for the upkeep of the common areas and facilities, which each tenant uses in common with all other unit owners. In the sale of a cooperative unit, the seller surrenders his or her stock and lease to the corporation, which in turn issues a new stock certificate and lease to the purchaser. The form and structure of cooperatives vary, and in some states are regulated by law.

Apart from actual ownership, an interest in real estate may consist of a lease, a mortgage, a lien, or other encumbrance on the property
we are Running a promo on Mainlands Garden Estate,and Palms Garden Estate is still Selling,

For more details kindly contact Mr Olalekan on 08035168598 or 08075981448

Rea Estate is the basis of wealth,the heritage of the wise,the thrify and prudent.It is the poor man joy and comfort the rich man's price,the right hand of capital,the sillent partner of many thousands of successful men.
It is the solace of the widow,the comfort of all ages,the cornerstone of security against misfortune and want.Its handed down to the children,through generations as a thing of greatest worth.
Real estate grow and increases in value through the countless days.Though seem dormant ,but the worth increases,never falling like, ,never ceasing,time is the aid and populations heaps up its gain.

STILL BETTER THAN THE BEST!!
PLOTS OF LANd for sale @INFINITY GARDENS phase 1 and 2,ibeju-lekki, lagos NOW SELLING AT N800,000.
LOCATION: CLOSE TO IBEJU-LEKKI LOCAL GOVERNMENT SECRETARIAT Before elekon junction,lekki-epe expressway.

NEIGHBOURHOOD:
*IBEJU-LEKKI LOCAL GOVERNMENT SECRETARIAT
*THE NEW INT’L AIRPORT
*THE NEW PAN-AFRICAN UNIVERSITY
*THE LEKKI FREE TRADE ZONE
*THE NEW SEA PORT
*TWO GOLF COURSES ,etc.
TYPE OF LAND: SANDY, DRY LAND.
OUTRIGHT PAYMENT:
N800,000 ONLY (MEASURING 120FT BY 60FT EACH)
FOR MORE INFORMATION CALL BLESSING ON: 08064082637,

OR EMAIL: besunproperties@yahoo.com
*Site inspection takes place every workday and Saturdays.
www.besunproperties..com

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With changing business dynamics and market conditions, tenant retention has become crucial for landlords. Lease negotiations are becoming more complex, with tenants Industrial Property seeking flexible terms, rent concessions, and amenities that cater to evolving preferences and needs.