AN INTRODUCTION TO REAL ESTATE

This chapter introduces the basic concepts concerning real property and personal property.  Students must compare the two classifications of property and note what makes real property so unique.  Besides the physical characteristics of real estate, there are also important economic characteristics of real property.  This chapter addresses the economics of the real estate market, including classifications of land according to use.  Students are introduced to the concepts of unimproved land, residential property, commercial property, industrial property, farm and rural property.  Each of these sub-classifications is explored in detail to give students a firm understanding of the various classifications of real estate law.