Concept in Definition ABC

The property is a good, considered as root good, as a consequence that it is closely linked to the soil or terrain in which it is found, so that it will be impossible to separate both physically and legally.

Very immobile that has a special rooted to the ground: urbanized plots, houses, apartments ...

Examples of buildings are urbanized or not urbanized plots, houses, industrial buildings, farms, apartments.
That is, the property is a very immobile to which it cannot be transferred in any way or separated from the ground without causing damages to it, either because it is part of the land or because it is anchored in he.

Real estate, such as houses or apartments, is normally used for family housing, and for commercial offices in which companies carry out their business.

Of course, depending on the destination they hold, the real estate will have special characteristics, for example, office real estate. They are usually free floors, without divisions, while those for housing have sectors and divisions: kitchen, living room, bedrooms, between others.

Typically, real estate is located registered in a special registry called Horizontal Property Registry, a situation that attributes greater protection to their owners.

When a person acquires a real estate, he must pay the price of it to the seller or to the builder of the same, a public document will be signed denominated as a deed, with the intervention of a notary public who will attest to the fact, and who will be the one who will grant the validity of the property to his owner.

Mortgage and rental objects

They are also goods that can be mortgage objects, in case their owners use them as collateral to ensure compliance with a obligation contracted, for example to access a loan from a Bank; the financial institution will take the property as a guarantee of payment of that credit that it delivers to the client. If it does not comply with the obligations of the agreement, it will lose that guarantee, that is, the property.

Also real estate is plausible to be rented by its owners and thus obtain a cost effectiveness thereof.

Many people around the world who have savings, instead of investing them in financial or stock market alternatives, decide to invest them in the purchase of a house or from an apartment that they will later put up for rent in order to receive a monthly rent, if they carry out a typical and traditional rental contract of two or three years.

On the other hand, at present, it is common for apartments bought as an investment to be rented temporarily, six months for example, since the rental amount is more profitable.

The choice of this type of investment has to do with the safety that it proposes, beyond the fact that the profitability may not exceed other alternatives in the financial or stock market fields. Because the apartment, the house, is there, it is tangible, safe, and the owner decides when to rent it, when sell it, meanwhile, another type of investment may be riskier, although of course it offers better benefits economic.

Taxes levied on them

In the tax law or tax law, which is the branch of public Law that establishes the norms from which the state exercises its tax power with the mission of obtaining income On the part of individuals that serve to cover public expenses, real estate is plausible of various taxes, such as: real estate tax, income tax, tax on the increase in the value of urban land and wealth tax.

Classes of real estate

There are different types of real estate such as: real estate by nature (soil and subsoil), real estate by incorporation (buildings), real estate by destination (the property is joined by elements that favor it), real estate by analogy (mortgage concessions), real estate by accession (doors, windows, entrance to garages), real estate by representation (the deed that grants ownership of the property).

Conversely, movable assets are those that can be moved from one place to another while preserving their integrity; some examples of this type of good are cars, motorcycles, boats, planes, among others.

Typically, real estate is more expensive than personal property.

Topics in Property