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Getting To Know Real Estate Terms

Does the mention of the words real estate raise a couple of questions in your head? Many people try to comprehend the concept of real estate in their way. Words have it that a real estate is made of a piece of land and buildings on it. Also all the natural features on that property are included the like of crops, soil and its components, water minerals, you name them. A real estate is also made up of real properties and objects of immovable nature.

While still in the mention of real estate different people have different purposes for real estates, this includes buying and selling of real estates other use it for settlement. Others see real estate as legal term used in jurisdiction derived from the common law in different continents in the world. All these different points of view direct to the same single thing, real estate.

Let’s look at residential type of real estates. A residential real estate may contain a single family or even a multi-family who might be together for job. At various cases residents of a real estate may not have ties whether blood or job ties In a real estate different housing tenure types can be used for the same physical type. This may be due to reasons like; the residents might be owned by one person who made them and then leased them out. Partnering in bringing up a real estate might also cause the difference due to agreements that maybe were made about the outlook of structures.

Based on different features and tastes of owners residential real estates might be classified into different categories.

One category is multi-unit structures or attached dwellings. Under this category we have apartments as the first group. An an apartment is a single unit in a multi-unit building. The apartment have boundaries which are marked by a perimeter of locked or lockable doors. Another category in this group is the multi-family house. In cases like these apartments are on different floors such that different floors is a different apartment. Also terraced houses fall into this category.Terraced houses also make part of the attached structures dwelling category. These are some multi-unit or single buildings sharing the same wall in a no convenient space from each other.A terraced house can define as single buildings or multi-unit buildings sharing the same wall. Another subcategory that is still in this category is the condominiums. Buildings and complexes in multi-unit that are owned by individuals are known s condominiums. In such buildings common areas and grounds are shared and owned jointly. In some places the condominium equivalents is a block of flats.

Cooperatives also fall into this category of multi-unit dwellings. Another category of this residence is the semi-detached dwellings. Boathouses make the top of the semi-attached list. A the houseboat is a house floating on water. The another example is the tents which are made temporarily using a non-long lasting material. Duplex a two unit structure with a single shared wall is also part of this category.

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