Realty Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Realty, written in plain English, along with examples of how it is used.
What is Realty?
(n) Realty is the term used to represent real property more specifically the landed property which are not expected to change during course of time
History and Meaning of Realty
Realty is a term that has its roots in the Latin word "realis," meaning "of or relating to things." In the legal context, realty is used to refer to real property, which is land and any structures built upon it that are intended to remain in place permanently. This definition includes buildings, natural resources, and any other improvements made to the land.
Examples of Realty
The Johnson family inherited a large piece of realty from their grandfather, including several acres of land and a sprawling estate.
The realty company was responsible for managing several properties in the downtown area, including office buildings, apartments, and retail spaces.
The city council passed a new ordinance prohibiting the sale of realty to non-residents in an effort to protect local businesses and residents.
Legal Terms Similar to Realty
- Real Property: Similar to realty, this term refers to land and any permanent structures on it.
- Personal Property: The opposite of real property, personal property encompasses movable objects that can be owned, such as furniture and vehicles.
- Deed: A legal document that transfers ownership of realty from one party to another.
- Easement: A right to use or access someone else's realty for a specific purpose, such as a shared driveway or utility access.