Saturday, 27 December 2014

Real Estate, Real Property and Leased Land; Definitions, Discussion and Explanations

The remainder of the first British Colonies, as well as Delaware, has some property that's leased rather than owned by the residents of that property. Much of it's not obvious to the casual onlooker.

The land on Lewes Beach is leased, not owned by the home owners. The property of Lewes Beach is possessed by the Town of Lewes. Rent property also is included by the properties of Rehoboth by the Ocean and Dewey Beach. Most of the leases on this property IS NOT GOING TO be revived but will return to the owners as well as the home owners will remove the houses in addition to that property at their expense. A lot of the property in Riverdale, on Indian River Bay, next to Oak Orchard is rent also. In Riverdale Chief Clark of the Nanticoke Indians owns the leased property.

We've got about half the inhabitants of Sussex County living on leased property; most of that leased property is located in what folks call communities or mobile home parks. Yet, in those communities there are rarely any houses which are actually mobile and there are even two narrative stick built houses on a few of the leased properties in those communities. Town houses and condominiums are from time to time located on leased property too. Some people find all this quite hard to understand.

We Realtors and Lawyers make use of the term fee simple to describe acreage that's being sold as real property; that's real estate. We used the term leased property or leasehold interest to spell out property which is not transferring as real estate.

This fairly long text is affecting Rent Acreage, Real Estate, Private Property, Chattels, Mobile Homes, Houses on Leased Acreage as well as a dissertation that is legal to identify, describe and determine the differences.

Language is vital when discussing Real Estate, i.e. real property.

Black's Law Dictionary is the accepted, authoritative source for legal definitions under our American Law; that is derived from English Law

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