Hello Good, Fellow Tryberz
I am very happy to be continuing this episode with you guys today. Like I have promised I will taking us all on my course of study in school. It’s one among the most very interesting course we have in Nigeria today. 3days ago, I gave us a quick peep on what the cause is all about, I hope y’al enjoy the last episode of this course. Incase you missed it, below is the link to the last class, read it up and catch with the class.
Today, I will be taking us on the concept of real estate property and asset. Afterwhich, I will list down and explain the different types of properties we have.
Real Estate Property And Asset Concept
Real Estate is defined as the physical land and those human made items, which attach to the land. It is the physical, tangible “thing” which can be seen and touched together with all additions on, above or below the ground.
It includes all rights, interest and benefits related to the ownership of real estate. Personal property includes interest in tangible and intangible items, which are not the real estate. Items of tangible property are not permanently affixed to real estate and are generally characterized by their mobility.
Types Of Property
There are two types of property
Accommodation land ground rent and Agricultural (Properties) Land
Ground rent, sometimes known as rent charge is a regular payment required under a lease from the owner of leasehold property, payable to the freeholder
Agricultural (Properties) Land, also known as Agricultural area denotes the land suitable for agricultural production, both crops and livestock. It is one of the main resources in agribusiness.
That’s all for today, next we would be talking about “Estate Ownership”. If you have any questions, do well to drop it below. Thank you!!!