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Simple English definitions for legal terms
realty
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A quick definition of realty:
Realty: Realty is another word for real property. This means land and any buildings or structures that are permanently attached to it. It is something that you can own and use for different purposes, like building a house or a business.
A more thorough explanation:
Realty
Realty is another term for real property, which refers to land and any permanent structures on it, such as houses or buildings.
- When my parents bought their house, they had to sign a lot of paperwork to transfer the realty from the previous owners to themselves.
- The realty company specializes in selling commercial properties like office buildings and warehouses.
These examples illustrate how realty refers to the ownership and transfer of land and buildings. When someone buys a house, they are not just buying the physical structure, but also the land it sits on. The realty company mentioned in the second example deals specifically with the buying and selling of commercial properties, which are often large and valuable pieces of real estate.