real estate A piece of land, including the air above it and the ground below it, and any buildings or structures on it. also called realty. see also personal property, abandonment, abeyance, title, asset classes, REIT, capital asset, fixed asset, closing statement, mortgage, REMIC, commercial property, economic rent, income property, passive income, listing, exclusive listing, illiquid, non-financial asset, right of redemption, tenancy, time-sharing.
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