What term encompasses land and things attached to it?

Study for the ASU REA380 Real Estate Fundamentals Exam. Use flashcards, multiple choice questions, and get hints and explanations for each question. Prepare thoroughly for your exam!

The term that encompasses land and things attached to it is "real estate." This concept includes not only the physical land but also anything that is permanently affixed to it, such as buildings, structures, and other improvements. Real estate refers to the tangible property itself, which is distinct from personal property or assets that can be moved, known as chattels.

In real estate, the land is considered a fixed asset, and everything permanently attached to it is included in the real estate classification. Therefore, when discussing real estate, we are encompassing the entirety of the land and any developments or structures associated with that land.

The other terms in the choices do not fully capture this comprehensive definition. "Real property" is a closely related term often used interchangeably with real estate, but it can also encompass rights and interests associated with land, whereas real estate focuses on the physical aspects. "Chattel" refers to movable personal property and does not apply to land or fixtures. A "lease" is an agreement that allows one party to use another party's property for a specified time but does not define the land and its attachments themselves.

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