Учебное пособие для студентов очной формы обучения направлений подготовки



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Bog'liq
posobie english for economists posl

immovable property
 is 
any subset of land that has been legally defined and the improvements to it have been made by 
human efforts: buildings, machinery, wells, dams, ponds, mines, canals, roads, etc.
 


55 
Historical background.
The word 
"real" 
ultimately 
derives 
from 
Latin 
res
("thing") and was used in Middle 
English to mean "relating to things, especially 
real property". 
In common law, real property was 
property that could be protected by some form 
of real action, in contrast to personal property, where a plaintiff would have to resort to another 
form of action.
The law now broadly distinguishes between real property (land and anything affixed to it) 
and personal property (everything else, e.g., clothing, furniture, money).
Identification of real property.
To be of any value a claim to any property must be 
accompanied by a verifiable and legal property description. Such a description usually makes use 
of natural or manmade boundaries such as seacoasts, rivers, streams, the crests of 
ridges, lakeshores, highways, roads, and railroad tracks, and/or purpose-built markers such as 
cairns, surveyor's posts, fences, official government surveying marks, and so forth. 
Estates and ownership interests defined.
The law recognizes different sorts of interests, 
called estates, in real property. The type of estate is generally determined by the language of 
the deed, lease, bill of sale, will, land grant, etc., through which the estate was acquired. A party 
enjoying an estate is called a "tenant." 
Bundle of Rights:
Real property is unique due to the fact that there are multiple "rights" 
associated with each piece of property. For example, most U.S. jurisdictions recognize the 
following rights: right to sell, right to lease, right to acquire minerals/gas/oil/etc. within the land, 
right to use, right to possess, right to develop, etc. These multiple rights are important because 
the owner of the real property can generally do what he/she chooses with each right. For 
example, the owner could choose to keep all the rights but lease the right to dig for oil to an oil 
company. Or the owner could choose to keep all the rights but lease the property to a tenant. In 
other words, the owner can elect to keep and/or lease and/or sell the rights to his/her land. 

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