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( Realty)
In the common law, real property (or realty) refers to one of the two main classes of property, the other class being personal property (personalty). Real property generally encompasses land, land improvements resulting from human effort including buildings and machinery sited on land, and various property rights over the preceding. The concept is variously named and defined in other jurisdictions heritable property in Scotland, immobilier in France, and immovable property in Canada, United States, India, Pakistan, Bangladesh, Malta, Cyprus, and in countries where civil law systems prevail, including most of Europe, Russia, and South America. The law recognizes different sorts of interests, called estates, in real property. The type of estate is generally determined by the language of the deed, lease, or bill of sale through which the estate was acquired. Estates are distinguished by the varying property rights that vest in each, and that determine the duration and transferability of the various estates. A party enjoying an estate is called a "tenant." Some important types of estates in land include
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