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Textbooks on the subject of surveying began to be written and the term “surveying” was used in England, while the term “appraising” was more used in North America. Natural law can be seen as having an influence in Emerich de Vattel’s 1758 “Law of Nations” which conceptualized the idea of private property. Green development is a concept that has grown since the 1970s with the environmental movement and the World Commission on Environment and Development. Green development examines social and environmental impacts with real estate and building. There are 3 areas of focus, being the environmental responsiveness, resource efficiency, and the sensitivity of cultural and societal aspects. Examples of Green development are green infrastructure, LEED, conservation development, and sustainability developments.
- In terms of law, real is in relation to land property and is different from personal property while estate means the “interest” a person has in that land property.
- For example, connected residences might be owned by a single entity and leased out, or owned separately with an agreement covering the relationship between units and common areas and concerns.
- Green development is a concept that has grown since the 1970s with the environmental movement and the World Commission on Environment and Development.
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- Semi-detached dwellingsDuplex – Two units with one shared wall.
Residences can be classified by and how they are connected to neighbouring residences and land. Different types of housing tenure can be used for the same physical type. For example, connected residences might be owned by a single entity and leased out, or owned separately with an agreement covering the relationship between units and common areas and concerns.
Terraced house (a.k.a. townhouse or rowhouse) – A number of single or multi-unit buildings in a continuous row with shared walls and no intervening space. One of the largest initial real estate deals in history known as the “Louisiana Purchase” happened in 1803 when the Louisiana Purchase Treaty was signed. This treaty paved the way for western expansion and made the U.S. the owners of the “Louisiana Territory” as the land was bought from France for fifteen million, making each acre roughly 4 cents. Luxury real estate is sometimes used as a way to store value, especially by wealthy foreigners, without any particular attempt to rent it out. Some luxury units in London and New York City have been used as a way for corrupt foreign government officials and businesspeople from countries without strong rule of law to launder money or to protect it from seizure. Environmental surveying is made possible by environmental surveyors who examine the environmental factors present within the development of real estate as well as the impacts that development and real estate has on the environment.
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In North America, there are townhouse or rowhouse style condominiums as well. The British equivalent is a block of flats. The natural right of a person to own property as a concept can be seen as having roots in Roman law as well as Greek philosophy. The profession of appraisal can be seen as beginning in England during the 1500s as agricultural needs required land clearing and land preparation.
Often seen in multi-story apartment buildings. In the United States, the transfer, owning, or acquisition of real estate can be through business corporations, individuals, nonprofit corporations, fiduciaries, or any legal entity as seen within the law of each U.S. state. “Global status report for buildings and construction”. Semi-detached dwellingsDuplex – Two units with one shared wall. Stay on top of real estate trends written by economists and property experts.
The stock market crash of 1929 and the Great Depression in the U.S. caused a major drop in real estate worth and prices and ultimately resulted in depreciation of 50% for the four years after 1929. In 1938, an amendment was made to the National Housing Act and Fannie Mae, a government agency, was established to serve as a secondary market for mortgages and to give lenders more money in order for new homes to be funded. In markets where land and building prices are rising, real estate is often purchased as an investment, whether or not the owner intends to use the property.
Real estate can be valued or devalued based on the amount of environmental degradation that has occurred. Environmental degradation can cause extreme health and safety risks. There is a growing demand for the use of site assessments (ESA’s) when valuing a property for both private and commercial real estate.
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