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Real Property

Real property is another name for real estate and is considered land and anything that is permanently attached to the land, such as houses, building, fences, and other built or created objects not moveable from one place to another. When planning an estate real property can be hard to divide equally without specifying that it be sold and the profits divided. In the case of large estates or family homes that have been passed down for years, this can present a problem that is not simple to solve, unless there is only one child. If the real property is truly to stay in the family it may be possible to equally divide other assets and leave the real property to one beneficiary. If, the main goal is to be equitable, the only solution may be to sell the property and divide the assets.

Fast Facts

  • Real property can be placed in a trust that is handled by one family member and thus the property avoids estate taxes.
  • Real property should be discussed with an estate planning attorney in order to come up with the best plan for its disbursement.

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  • Real Property (Land Law)

    Property signifies dominion or right of use, control, and disposition which one may lawfully exercise over thi...
    • Site: realestatelawyers.com
    • 1 of 1 user(s) found this useful
  • Real Estate/Property Definition

    Definition of real estate: land and anything growing on, attached to, or erected on it, excluding anything tha...
    • Site: realestatelawyers.com
  • Top 10 Reasons for Real Estate/Property/House Inspections

    So, you think you know everything there is to know about the legal description of your propert...
    • Site: realestatelawyers.com
  • Property Deed

    A property deed is the legal document which transfers the property from your seller to you. You should review...
    • Site: realestatelawyers.com
    • 2 of 2 user(s) found this useful
  • Selling Property: Real Estate Laws Involved

    Selling property is a complicated and time consuming process today.  It takes more than a handshake to complet...
    • Site: realestatelawyers.com

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