Real estate law is a body of codes and regulations dealing with things like residential and commercial real property transactions. The specific regulations differ from jurisdiction to jurisdiction. Real estate law generally concerns itself with real property as opposed to personal property.
Real property consists of any item that is part of, or attached to, the land on which it sits. This may include any item, right or restriction connected to the land considered to be immovable by law. Personal property, in contrast, are those assets, like furniture or appliances, that are removable and can be taken from the property.
Real estate may refer to the land or the land and the fixtures as one. Real estate is distinct from real property, which may seem like a distinction without a difference. Real property and real estate are both terms used in common law and are both additionally regulated by state and federal statutes. Often real estate law overlaps with contract law.
Real estate law covers a wide variety of issues, including sales, purchases, transfers, rights and interests in real estate, the legal aspects of renting, landlord issues, tenants, renters and homeowner’s rights, claim settlement against property rights, zoning, land use, property development, loan, foreclosures and even agricultural issues. This is a very complex area of the law, governed by a series of inconsistent laws across the nation.