What is the main underlying property. Classification of material objects as immovable

29.07.2022

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1. Basic concepts and definitions of real estate economics

1.1. The concept, essence and main characteristics of real estate

“Real estate is any property consisting of land, as well as buildings and structures on it.”

In Russia, the term "immovable and movable property" first appeared in the legislation during the reign of Peter I in the Decree of March 23, 1714 "On the order of inheritance in movable and immovable property." Land, land, houses, factories, factories, shops were recognized as real estate. Real estate also included minerals located in the ground, and various structures, both towering above the ground and built under it, for example: mines, bridges, dams.

In Soviet civil law (CC RSFSR - Article 21, 1922) it was established that in connection with the abolition of private ownership of land, the division of property into movable and immovable was abolished.

In the process of carrying out economic reforms in Russia, the division of property into movable and immovable property has been reintroduced. Since 1994, according to , "immovable things ( real estate, real estate ) includes land plots, subsoil plots, isolated water bodies and everything that is firmly connected with the land, that is, objects that cannot be moved without disproportionate damage to their purpose, including forests, perennial plantations, buildings, structures. Real estate also includes air and sea vessels subject to state registration, inland navigation vessels, and space objects.

Other property may also be classified as real estate. So, according to, "the enterprise as a whole, as a property complex used for entrepreneurial activities, is recognized as real estate" (Table 1.1).

Table 1.1

Types of real estate

	Separate objects	Complex objects
	Land	The enterprise as a whole as a property complex, including: ♦ land plots; ♦ buildings and structures; ♦ inventory and equipment; ♦ raw materials and products; ♦ claims and debts; ♦ rights to designations that individualize the enterprise, its products, works and services; ♦ intangible assets; ♦ information; ♦ other exclusive rights
	Subsoil plots
	Separate water bodies
	Everything that is firmly connected to the earth, including: ♦ forests; ♦ perennial plantations; ♦ buildings; ♦ facilities
	Equivalent to real estate, subject to state registration: ♦ air and sea vessels; ♦ inland navigation vessels; ♦ space objects. Other items endowed with the status of real estate by law

The definition of real estate located in the housing sector is contained in Article 1 of the Law of the Russian Federation “On the Fundamentals of the Federal Housing Policy”, which includes in the composition of such property: land plots and residential buildings with residential and non-residential premises firmly associated with them, household outbuildings, green spaces with a multi-year development cycle, residential buildings, apartments, other residential premises in residential buildings and other buildings suitable for permanent and temporary residence, structures and elements of the engineering infrastructure of the housing sector.

Things not related to real estate, including money and securities, are recognized as movable property.

Real estate may be divisible and indivisible .

Divisible property is property that can be divided into shares without violating its essence, and each of its shares after the division represents a whole immovable thing. At the same time, in cases established by law, divisible real estate can be recognized as indivisible (farms in a number of countries).

Real estate may have inseparable parts who are called significant (cannot be separated from an immovable without causing disproportionate damage to it - for example, an elevator and elevator equipment of a residential building).

Movable things can be associated with immovable things, called accessories. An accessory is such a movable thing, which, without being an essential part, serves real estate and is connected with it by a general purpose.

An immovable thing may have different encumbrances - conditions, prohibitions that restrict the right holder in exercising the right of ownership or other property rights to a specific real estate object (servitude, mortgage, trust management, lease, attachment of property, etc.) established on the basis of an agreement or law.

easement - the right of limited use of someone else's real estate object, for example, for the passage, laying and operation of necessary communications and other needs that cannot be provided without the establishment of an easement. An easement as a real right to a building, structure, premises may exist without connection with the use of a land plot.

Cadastral number - a unique number of a real estate object that does not repeat in time and on the territory of the Russian Federation, which is assigned to it during cadastral and technical accounting (inventory) in accordance with the procedure established by the legislation of the Russian Federation, and is stored as long as this real estate object exists as a single object of a registered rights. The cadastral number of a building or structure consists of the cadastral number of the land plot on which the building or structure is located and the inventory number of the building or structure. The cadastral number of a room in a building or structure consists of the cadastral number of the building or structure and the inventory number of the room.

Cadastral and technical accounting (inventory) of the property - description and individualization of a real estate object (land plot, building, structure, residential or non-residential premises), as a result of which it receives such characteristics that allow it to be unambiguously distinguished from other real estate objects.

The essential characteristic of real estate is its intended purpose or permitted use.

Any real estate object in reality exists in the unity of physical, economic, social and legal properties, each of which can, in appropriate cases, act as the main (defining) one, depending on life situations.

Geographic concept reflects the physical (technical) characteristics of real estate: the design and materials of buildings, size, location, soil fertility, improvements, environment and other parameters. All real estate objects are exposed to physical, chemical, biological, technogenic and other processes. As a result, their consumer qualities and functional suitability are gradually changing, the state of which is taken into account when making transactions, owning and using property.

economic concept considers real estate as an effective investment and a reliable tool for generating income. The basic economic elements of real estate - value and price - primarily arise from its usefulness, the ability to satisfy the various needs and interests of people. Due to the taxation of property owners, municipal budgets are formed and social programs are implemented.

At the legal level real estate implies a set of public and private rights established by the state, taking into account domestic characteristics and international norms. Private rights can be indivisible or partial and divided on the basis of the physical horizontal and vertical delimitation of property into underground resources, land surfaces, buildings on them, airspace.

In Russia, as in other industrialized countries of the world, private individuals are legally guaranteed the right to buy, sell, lease or transfer property or the right to own and use it to other citizens and enterprises, i.e. freely dispose of their property. However, when private ownership of real estate comes into conflict with the public interest, it ceases to be subject to the jurisdiction of private law.

social role real estate is to meet the physiological, psychological, intellectual and other needs of people. Ownership of real estate is prestigious in the public mind and necessary for the formation of a civilized middle social stratum.

Traditionally, real estate in Russia is divided into 3 groups: housing stock, non-residential stock, and land. Each of these groups develops independently, has its own legislative and regulatory framework (Fig. 1.1).

Rice. 1.1. Main types of real estate

Housing stock - the totality of all residential premises, regardless of the form of ownership, including residential buildings, dormitories, specialized houses, apartments, other residential premises in other buildings suitable for habitation.

Residential real estate as a commodity has the following properties that distinguish it from other goods (Fig. 1.2).

Rice. 1.2. Features of real estate as a commodity

The non-residential fund includes buildings, structures and other objects or part of them, located on a certain land plot and registered in the prescribed manner. Non-residential premises differ in their functional purpose into office, retail, warehouse and industrial premises.

The underlying property is land, which is the place of residence of all people, the main factor in any business, directly or indirectly involved in the production of all other goods.

Along with the division into types, real estate is classified according to a number of features, which contributes to a more successful research of the real estate market and facilitates the development and application of methods for evaluating various categories of real estate and managing them.

By nature of use

Residential real estate: houses, cottages, apartments.
- Commercial real estate: hotels, office space, shops, restaurants, service points.
- Industrial real estate: factories, factories, warehouses.
- Agricultural real estate: farms, orchards.
- Special real estate: schools, churches, monasteries, hospitals, nurseries, nursing homes, buildings of government and administrative institutions.

Purpose of ownership

To conduct business;
- for the owner's residence;
- as an investment;
- as inventory and WIP;
- for development and development;
- to consume exhaustible resources.

By degree of specialization

Specialized (due to its special nature, it is rarely, if ever, leased to third parties or sold on the open market to continue its existing use, except when it is sold as part of its using business): refineries and chemical plants, power plants; museums, libraries and similar premises belonging to the public sector;

Non-specialized - all other real estate for which there is a general demand on the open market for investment, existing or similar purposes.

According to the degree of readiness for operation

Put into operation;
- requiring reconstruction or major repairs;
- Construction in progress.

By reproducibility in natural form

Non-reproducible: land plots, mineral deposits;
- reproducible: buildings, structures, perennial plantings.

Real estate has the potential to generate income and is quite an attractive investment area. Forms of real estate income:

1) future periodic cash flows;
2) an increase in the value of real estate due to changes in market prices, the acquisition of new and development of old objects;
3) income from the resale of the object at the end of the holding period.

LECTURE 1. REAL ESTATE: ESSENCE AND MAIN FEATURES

Classification of material objects as immovable

In the beginning, it is necessary to consider how the concept of real estate is interpreted. There are several approaches to the definition of real estate "Real estate is any property consisting of land, as well as buildings and structures on it." "...properties are immovable by their nature, or by virtue of their purpose, or by virtue of the object of which they belong."

“Real estate, real estate - real land and all material property. Includes all tangible property below, above, or attached to the earth. “Lands and all kinds of land, houses, factories, factories, shops, all kinds of buildings and empty courtyards, as well as railways, are recognized by law as immovable property.”

From the above definitions, it becomes clear that they all closely overlap and basically have the same meaning (regardless of the moment of history) - the earth and everything that is inseparably connected with it.

At the moment, the Civil Code of the Russian Federation (Article 130) determines that for immovable things - (the terms "real estate", "real estate", "real estate objects" are used as single-order terms and are applied depending on the context), (real estate, real estate) includes land plots, subsoil plots, isolated water bodies, and everything that is firmly connected with land, that is, objects that cannot be moved without disproportionate damage and purpose, including forests, perennial plantings, buildings, structures.

Thus, the distinctive feature of real estate is its inextricable connection with the land (while the land itself is also considered as real estate), which in turn implies its significant value. Outside of connection with land plots, immovable objects lose their usual purpose and, accordingly, decrease in price.

Thus, trees grown in special nurseries or houses intended for demolition are not considered real estate.

At the same time, the law refers to real estate and objects that, by their physical nature, are immovable. These include air and sea vessels subject to state registration, inland navigation vessels, space objects (artificial satellites, space ships, etc.). The legal recognition of this property as immovable is due to the fact that it is expensive and therefore requires a special registration procedure, which is provided for real estate.

Real estate objects differ in their origin:

- created by nature without the participation of human labor;
- are the result of human labor;
- created by human labor, but connected with the natural basis to such an extent that they cannot function in isolation from it.

The Civil Code of the Russian Federation distinguishes real estate as an independent object of law.

Real estate also includes enterprises as property complexes.

In the practice of economic activity, a property complex is considered as a set of real estate objects owned by one owner, including a land plot (or several plots) with a set of functionally related

among themselves buildings, structures, transmission devices, technological equipment and intended for economic activity.

The composition of the property complex includes property that is necessary for production functioning.

To recognize the property complex as an enterprise, it must include elements that allow the business entity to independently produce products, perform work or provide services and thereby systematically make a profit. At the same time, the set of elements depends on the profile of activity, financial, economic, territorial and other conditions for the functioning of the enterprise.

An enterprise as a real estate object constitutes a single property complex, which includes not only all types of property intended for its activities, but also non-property rights.

In the Civil Code of the Russian Federation, an enterprise

- an industrial and economic complex, the property of which is completely separated from the property of the organization,
It is a basic component of an organization's infrastructure.

Real estate objects are a spatial resource of its business activity, the life of the staff and the organization.

So, real estate objects include the most valuable and generally significant fixed assets and such real estate objects as land and subsoil, which are of great economic and strategic importance for any state at all times.

real estate land transaction lending

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Real estate economics

Grave of V.F.

1. Property object: essence and main features

2.5 Characteristics of commercial properties that create conditions for profit

Security questions for self-examination

3. Land - the basis of real estate

3.1 The essence of the land plot as a real estate object

3.2 Purpose of land in the Russian Federation

3.3 Zoning of settlement land

3.4 Urban space

3.5 State land cadastre

Security questions for self-examination

1. Property object: essence and main features

The study of objects and the real estate market involves a semantic (semantic) analysis of words and expressions that reflect their essence. In the Civil Code of the Russian Federation (hereinafter referred to as the Civil Code of the Russian Federation), real estate defines the legal relations of a real estate object as an object of ownership. The term "property" refers to the totality of property rights belonging to a particular person, i.e. it is a material object of civil law, primarily property rights. Accordingly, the concepts of "real estate" and "real estate" determine the legal relations of the object of ownership (real estate), i.e. set of rights to a property. The division of objects into immovable and movable property (clauses 1, 2 of article 130; clauses 1, 2, 4, 6 of article 131; article 132 of the Civil Code of the Russian Federation) was also carried out on the grounds related to the right (law), and not according to their physical nature.

" Real estate is any property consisting of land, as well as buildings and structures on it.

"...Properties are immovable by their nature, or by virtue of their purpose, or by virtue of the object of which they belong."

"Real estate - real land and all tangible property. Includes all tangible property below the surface of the earth, above its surface or attached to the earth."

"Lands and all kinds of land, houses, factories, factories, shops, all kinds of buildings and empty courtyards, as well as railways, are recognized by law as immovable property."

In all the above definitions, we are talking about the earth and everything that is inextricably linked with it.

In the 19th century in Russia, the concepts of a manor, an estate were widespread, which was defined as property or personal property in the form of a landed property of a landowner, usually with a manor. In the Soviet economy, the concept of real estate was not used, it was only known that "real estate (this) in feudal and bourgeois law is land plots, capital buildings, structures and some other objects standing on them."

In modern theory and practice of the US real estate market, there are such concepts as a physical object (real estate) and legal relations (property rights) associated with real estate (real property).

Accordingly, in Russian, if we are talking about the physical nature of real estate objects, it is necessary to use the concept of "real estate object", and if we mean legal relations (ownership, use, disposal, i.e. property), it will be more correct to use the terms "real estate or "real estate".

real - real, real, real, natural, not fake, unfeigned (econ.), real (legal, econ.), immovable (philosophical), material, material (special true (legal), real (mat. .), real, real;

estate - estate, estate, property, state;

property - property, ownership, property, quality.

1.1 Classification of material objects as immovable

Prior to the entry into force of the first part of the Civil Code of the Russian Federation in domestic economic theory and economic practice, the concept of a real estate object was absent, and the concept of fixed assets was used. The removal of land from the framework of commodity-money relations led to the transformation of the concept of "real estate" into the concept of "fixed assets". Fixed assets include items for production and non-production purposes (buildings, structures, living quarters, machinery, equipment, adult working and productive livestock, perennial plantations), which in their natural form function and are used in the national economy for a number of years and throughout the entire service life do not lose their consumer form. Fixed assets (without machinery and equipment) - an integral part of real estate - are a narrower concept, since land is not taken into account in the composition of fixed assets.

Civil Code of the Russian Federation (Article 130) - defines that real estate includes land plots, subsoil plots, isolated water objects and everything that is firmly connected with land, objects that cannot be moved without disproportionate damage and change of purpose, including forests , perennial plantings, buildings, structures.

Thus, a distinctive feature of real estate objects is their inseparable connection with the land, which implies its significant cost (while the land plots themselves are also considered as real estate objects). Outside of connection with land plots, real estate objects lose their usual purpose and decrease in price.

Thus, trees grown in special nurseries or houses intended for demolition are not considered real estate. real estate residential land cadastre

By origin, real estate objects are distinguished:

created by nature without human intervention;

which are the result of human labor;

created by human labor, but connected with the natural basis to such an extent that they cannot function in isolation from it.

One of the unresolved issues is the issue of classifying objects that do not have an inseparable connection with the land plot as real estate, although it is rather difficult to separate them from this land plot. This, in particular, can be about statues weighing several tons, not fastened to the foundation, or buildings installed on the surface of the earth on blocks.

Certain types of immovable property can legally be converted into movable property. So, for example, forests and perennial plantations, by definition, are real estate, and harvested forest is already movable property.

Equipment located in buildings and structures (heating, water supply, sewerage, electrical equipment, elevators, gratings, second metal doors) refers to objects that are not connected to the ground. But since it has become an integral part of the real estate object, in the case of a transaction for this object, all equipment included in its composition should be described in detail.

Real estate also includes enterprises as property complexes.

The law does not define a mandatory list of elements that make up the property complex. As a rule, the property complex includes property that is necessary for production functioning.

In the practice of economic activity, a property complex is considered as a set of real estate objects owned by one owner, including a land plot (or several plots) with a set of functionally interconnected buildings, structures, transmission devices, technological equipment and intended for economic activity.

The composition of the property complex includes property that is necessary for production functioning.

When carrying out economic activities, it is important to know by what criteria a property complex can be recognized or not recognized by an enterprise. If the alienated property complex is suitable for doing business, i.e. forms a technologically integrated whole, a closed production cycle, it should be considered an enterprise, and sales should be regulated by the norms of the Civil Code of the Russian Federation. All other combinations (complexes) of things that do not have these properties do not form the subject of the said contract. To recognize the property complex as an enterprise, it must include elements that allow the business entity to independently produce products, perform work or provide services and thereby systematically make a profit. At the same time, the set of elements depends on the profile of activity, financial, economic, territorial and other conditions for the functioning of the enterprise.

An enterprise as an object of real estate used for business activities cannot be reduced to a set of equipment for the production of certain products: in order to be recognized as an enterprise, it is necessary to organize the production process on the basis of a property complex. An enterprise as a real estate object constitutes a single property complex, which includes not only all types of property intended for its activities, but also non-property rights. So, for example, there are often companies that rent real estate, i.e. the enterprise includes the property right to use the property for certain production activities.

In the Civil Code of the Russian Federation, an enterprise is a production and economic complex, the property of which is completely separated from the property of the organization, it is the basic component of the organization's infrastructure. Real estate objects are a spatial resource of its business activity, the life of personnel and organizations (Fig. 1.1).

Rice. 1.1. Enterprise as a special property

1.2 Signs of real estate objects

Having a land plot as an integral part, all artificial buildings (real estate objects) have generic features that make it possible to distinguish them from objects not related to land.

Stationarity, immobility - characterizes the strong physical connection of the property with the earth's surface and the impossibility of its movement in space without physical destruction and damage, as this makes it unsuitable for further use.

Materiality - the real estate object always functions in natural-material and value forms. The physical characteristics of a property include data on its size and shape, inconveniences and hazards, environment, access roads, utilities, surface and subsoil, landscape. The combination of these characteristics determines the usefulness of the physical object, which is the basis of the value of the property. However, utility by itself does not determine value. Any physical object has a value, possessing to some extent such characteristics as suitability and limited supply. The limited supply drives up the cost. Social ideals and standards, economic activity, laws, government decisions and actions, natural forces influence people's behavior, causing a change in the value of a property.

The durability of real estate objects is practically higher than the durability of all other goods, except for certain types of precious stones and rare metal products. For example, according to the building codes and regulations in force in Russia (SNiP), residential assignments, depending on the material of the main structures (foundation, walls, ceilings), are divided into 6 groups with standard service lives from 15 to 150 years.

The duration of the circulation of the earth, with its proper use, is infinite, and violation of the rules of operation will lead to irreparable losses. In addition to the main generic features of real estate, private features can be distinguished, which are determined by specific indicators depending on the type of real estate.

It is practically impossible to talk about two identical apartments, two identical plots or buildings, since they will necessarily have differences in location in relation to other real estate objects, to infrastructure and even to cardinal points, which indicates the heterogeneity, uniqueness and originality of each property.

Real estate objects have an increased economic value, as they are intended for long-term use and are not consumed in the course of use. As a rule, real estate objects are structurally complex, and maintaining them in proper condition is expensive.

1.3 Features of real estate objects

From an economic point of view, a real estate object can be considered as a blessing and as a source of income (Fig. 1.2).

Rice. 1.2. Essential characteristics of real estate objects

The concept of good in economic theory means any object of consumer choice that can deliver a certain satisfaction to the consumer (increase his level of well-being). Goods can be both objects and actions (in this case, real estate objects and services provided in the real estate market). Note that there is no difference between the benefits of a material and non-material nature.

Land as a common good performs the functions of life support for people in rural areas and the socio-territorial development of the nation. As a source of income, land is the basis of agricultural production, an independent complex (in economic connection with constructed buildings, structures) investment object, part of national wealth, an object of taxation, a source of natural resources (the only one of all real estate objects). Residential properties can be considered as both direct and indirect sources of income. Housing as an object of sale is a direct source of income, and housing construction is a source of indirect income, which stimulates the development of project activities, the building materials industry, contributes to the construction of infrastructure facilities, road construction, the development of urban transport, trade and services.

Real estate objects can be a providing resource, which is typical for organizations whose business is not based on real estate transactions.

For them, it is important that the structure, composition and quality of real estate objects correspond to the goals and objectives of the organization's core business. Structural reorganization of such companies, as a rule, is accompanied by the reorganization of the property complex, a significant redistribution of property, the implementation of investment projects, including for the development of new industries and individual lines. In addition, real estate transactions in such organizations may also take place as an ancillary business, for example, the sale of non-core assets or the leasing of unused real estate.

Real estate objects can act as a subject of specialization of the organization, the subject of its business activity, the main source of income. These are, for example, large-scale portfolios of residential and non-residential real estate in investment, insurance and pension funds.

Another type of organization for which the real estate object is the basis of their assets and professional activities are developers. Their business is inherently connected with the acquisition of land plots, the implementation of development projects, for example, by building up the acquired land plots with residential and commercial real estate objects with their subsequent sale.

The place and role of real estate objects, of course, is influenced by the scale and specialization of the organization. So, for example, a special place is occupied by real estate objects in modern science-intensive and highly automated production, and in a virtual business, you can get by with a rented room, i.e. minimum physical production.

The “benefit” of owning a property and earning income from its use is inseparable from the burden of associated costs, costs and risks.

The owner is obliged to maintain the property (protection, repair and maintenance in proper condition) if the law (contract) does not impose this "burden" or part of it on another person.

The owner bears the risk of accidental loss or damage to the property, i.e. its loss or damage in the absence of someone else's fault in this.

Any real estate object actually exists in the unity of physical, economic and legal properties (Fig. 1.3), each of which can, in appropriate cases, act as a determinant, depending on the emerging situations, goals and stages of analysis.

The essence of real estate objects lies in the trinity of categories: material (physical), legal and economic.

Rice. 1.3. Trinity of real estate objects

1.4 Real estate life cycle

The life cycle of a real estate object as a physical object is a sequence of processes for the existence of a real estate object from conception to liquidation (disposal). The life cycle of material objects is usually defined in the following order: idea - birth - maturity - aging and death.

The stages of the life cycle of a real estate object are called differently: pre-project - design - construction - operation - closure.

The pre-project (initial) stage includes an analysis of the market for movable property, the choice of a real estate object, the formation of a project strategy, investment analysis, preparation of initial permits, and attraction of credit investment funds. 2. The design stage includes the development of a financial scheme, the organization of financing, the selection of an architectural and engineering group, design management.

The main tasks of this period are to reduce the duration of these stages, improve the consumer qualities of real estate objects, and most importantly, minimize operating costs at all stages of the life cycle of a real estate object.

Obviously, in the first two stages, no profit is formed, since they are of a motivational nature.

2. The construction stage consists in selecting a contractor, coordinating the conduct of construction work and monitoring the quality of construction, cost estimates and expenses. At this stage, real evidence of the compliance of the object under construction with the requirements of the real estate market segment, due to the logic of the life cycle, appears. At this stage, the tasks of increasing the share of investments of potential consumers are solved, since the growth in the volume of offers and profits indicates a fairly wide market recognition.

3. The stage of operation of the real estate object involves the maintenance and repair of objects, and their reconstruction. The operation of real estate objects includes the following areas: operation and repair of equipment and premises, material accounting, fire protection and safety, communications management, waste disposal and processing, changes and reconstruction, emergency response and facility security.

Reconstruction of real estate objects - a radical reorganization, alteration in order to improve the complex of organizational and technical measures aimed at eliminating the moral and physical depreciation of real estate objects as a whole or their individual elements and systems.

Maintenance - work performed to ensure the standard life of real estate; they do not lead to an increase in its cost, but prevent deterioration and failure of individual elements. The purpose of maintenance is to ensure the use of the object for its intended purpose.

Repair - restoration work of damage (depreciation of the object) of real estate to a normal operational state. The purpose of repair is restoration.

Repair work is divided into small and large. Minor repairs, the duration of which is 1-2 days, are carried out to ensure the normal operation of the property. It does not extend the life of the object and does not increase its value. Major repairs (more than 2 days) extend the life of the property, but do not increase its value.

Replacement is the process of replacing the fixed assets included in the real estate object with a similar unit. The subject of replacement is an independent object of fixed assets, going to useless or obsolete components of fixed assets.

4. The stage of closing the object is the complete elimination of its original and acquired functions, the result is either demolition or a qualitatively new development. Significant liquidation costs are required at this stage of the property's life cycle. Costs are the result of ownership of the property. In the event that a property receives a new quality development, the cost of change is attributed to the cost of ownership per new function.

Similarly, the life cycle of real estate objects can be divided into stages and the life cycle of a property complex.

Formation of the property complex (regulatory registration of the results of transactions with real estate objects and rights to them: purchase and sale, contribution to the authorized capital, rent, leasing).

Development of the property complex (new construction, acceptance on the balance sheet).

The liquidation of the property complex is auctions and other mechanisms for the sale of property (including real estate) of a bankrupt organization in accordance with the legal provisions of bankruptcy proceedings.

The life cycle of real estate as property from the point of view of the owner is repeated many times, with each new business, until the end of the economic or physical life of the property. Based on the trinity of categories of material (physical), legal (legal) and economic - the life cycle of a property can be divided into three stages (Fig. 1.4). Each stage includes certain activities and actions of the owner.

The life cycle of a real estate object is subject to certain patterns and includes the period of economic and physical life (Fig. 1.5).

1. The term of economic life, which determines the period of time during which the object can be used as a source of profit. The economic life ends when the improvements made no longer contribute to the value of the property.

Rice. 1.4. Stages of existence of the property

Rice. 1.5. Lifespan of a building or structure

2. Typical term of physical life - the period of real existence of the property in a functionally usable state before its demolition. Determined by regulatory documents The physical and economic life of real estate objects are of an objective nature, which can be regulated, but cannot be canceled.

3. Life time - the period of time when the object exists and you can live or work in it.

From the point of view of the period of the life of the property, I single out such terms as:

Effective age, reflecting the age of the object, depending on the appearance, technical condition.

Chronological (actual) age corresponding to the period of the object in operation from the moment of its commissioning.

The remaining period of economic life used for the purpose of "assessing the object by an expert appraiser and making up the period from the date of assessment to the end of the economic life of the object.

1.5 Depreciation of properties

The duration of the physical life of a property (except land), economic and effective age depend on wear and tear - a process that has the force of the laws of nature. There are three types of depreciation: physical, moral and external (economic (Fig. 1.6).

All types of physical deterioration, as a rule, lead to negative consequences. Individual consumer and operational characteristics of real estate are deteriorating, the frequency of its repairs is increasing, and repair work is becoming more expensive. To some extent, physical wear and tear can be slowed down by introducing a maintenance system.

The concept of "depreciation" used in valuation activities must be distinguished from the concept of "depreciation" used in accounting. Wear and tear from the point of view of an accountant and an appraiser are different processes.

In accounting documents, depreciation is an economic mechanism for compensating for the depreciation of fixed assets, which is commonly called depreciation. That is, the process of replenishing the loss of the value of an object and the process of accumulating funds (sources) for the acquisition of new objects to replace worn ones.

Currently, in accordance with the regulation on the procedure for calculating depreciation deductions for fixed assets, the depreciation of individual objects is determined by a uniform (linear) method, (in monetary terms) according to the formula: (Balance value, or initial cost, or replacement cost) * depreciation rate.

Rice. 1.6. Types of wear

In Russia, uniform rates of depreciation allowances for full restoration are used, which are differentiated by classification groups of fixed assets. In foreign practice (in addition to the uniform depreciation method), they use the decreasing balance method, the cumulative method and the "reimbursement fund factor" method, which is based on the theory of compound interest. These methods are used in valuation procedures based on the income approach.

Moral obsolescence is a decrease in the consumer attractiveness of certain properties of a property, it manifests itself in the outdated architecture of the building, layout, engineering support. Obsolescence is divided into functional and technological. Functional depreciation is a consequence of expanding the functionality of new (similar to existing) real estate objects. As a result of functional wear and tear, real estate objects of old buildings become less attractive for future owners in terms of architecture, design, layout, engineering support and, accordingly, become cheaper. Technological wear and tear is a consequence of scientific and technological progress in the field of creating new structures, technologies and materials, which leads to a reduction in the cost of creating real estate and operating costs. As well as physical, obsolescence can be removable and irremovable.

The criterion for the removal of wear is the comparison of repair costs with the value of the additionally received value: if the latter exceeds the cost of restoration, then functional wear is removable. The amount of removable functional depreciation is defined as the difference between the potential value of the building at the time of its valuation with updated elements and its same value at the same valuation date without updated elements.

External (economic) depreciation (depreciation due to external influences) is a decrease in the value of a building due to a negative change in its external environment under the influence of economic, political or other factors.

The reasons for external wear and tear may be: the general decline of the area in which the object is located; actions of the government or local administration in the field of taxation, insurance; other changes in the market of employment, recreation, education.

The close proximity to unattractive natural or artificial objects (treatment facilities, restaurants, dance floors, gas stations, railway stations, hospitals, schools, industrial enterprises) significantly affects the amount of external wear.

Economic depreciation, unlike physical and moral depreciation, is always considered irreversible.

Security questions for self-examination

1. How does the Civil Code of the Russian Federation define real estate?

2. What is a condominium?

3. What are the main tasks solved in the process of collective self-government?

4. What is the object of the statutory activity of the HOA?

5. Expand the essential characteristics of real estate.

6. Describe the stages of the life cycle of real estate objects.

7. Name the main participants in the process of development (creation) of real estate objects.

2. Characteristics and classifications of real estate objects

The classification of real estate objects not only contributes to their more successful study, but also provides professionals and consumers with common guidelines. The features of the classification of real estate objects, which are the basis for grouping, are different, as are the motivation and conditions of solvency. There is no single typological criterion integrating the influence of all factors. In practice, several criteria are used to give a reasonable idea of the property. But we must always remember that the real estate market does not develop according to classification, but in accordance with certain needs of its participants. Therefore, objects of mixed formats always appear, and some only partially coincide with the classical definitions.

2.1 Property classification system

The definition of real estate involves the allocation of two elements in their structure:

1. Natural (natural) objects - land, forest and perennial plantations, isolated water bodies and subsoil plots. They are also called "real estate by nature".

2. Artificial objects (buildings):

a) an apartment building - a low-rise building (up to 3 floors), a multi-storey building (from 4 to 9 floors), a high-rise building (from 10 to 20 floors), a high-rise building (above 20 floors). Residential real estate objects can also be a section (entrance), floor in the entrance, living quarters.

Residential premises are isolated premises suitable for permanent residence of citizens. Types of residential premises:

1) residential building, part of a residential building;

2) an apartment, part of an apartment;

3) room.

A residential building is an individual isolated building, which consists of rooms and auxiliary premises designed to meet the needs of citizens associated with their living in the house.

An apartment is a structurally separate building located in an apartment building, consisting of one or more rooms and premises of auxiliary use, designed to meet the needs of citizens related to living.

A room is a part of a residential building or apartment intended for use as a place of direct residence of citizens in an apartment or residential building.

A premise is understood as a unit of a real estate object allocated in kind and intended for independent use for residential and other purposes.

Any apartment building as a real estate object is a single and integral structure, but from the standpoint of use for living, this structure is heterogeneous, since in addition to personal ownership of housing, it includes shared ownership of common property.

common property -- all engineering and other systems, without which it is impossible to operate separate personal real estate objects (apartments), as well as the land plot on which the house is located, with landscaping and landscaping elements. Without common property, there cannot be a separate (personal) object of real estate - an apartment. This property has the properties of indivisibility. This means that any owner of the premises - housing - must simultaneously own the right of (single) personal ownership of housing and the right of shared ownership of common property. Unlike space owned by individual owners, which they can dispose of as they see fit, joint ownership is "indivisible": it cannot be sold, mortgaged or managed without the consent of the co-owners.

In this way, apartments on the rights of ownership are internal partitions (walls), interior doors, a layer of decoration on walls and ceilings (a layer of plaster, paint, wallpaper), as well as engineering and technical systems that can be separated from common ones without prejudice to the interests and rights of owners other premises. In terms of construction costs, this property is approximately 10-15% of the cost of building a house.

Essentially, this means that the corresponding share in the ownership of said common property always follows the fate of the ownership of the dwelling, i.e. the right to own housing together with the right to own a share in the common property of an apartment building characterizes the legal status of a dwelling.

Preservation for the owners of premises in any building and structure of the right of ownership to common, indivisible in kind property is a factor in the unification of homeowners into a single social organism for the maintenance and operation of common property.

b) commercial - offices, restaurants, shops, entertainment complexes, hotels, garages for rent, warehouses and logistics terminals, buildings and structures, enterprises as property complexes;

c) public (special) buildings and structures:

health-improving (hospitals, polyclinics, nursing homes and children's homes, sanatoriums, sports complexes):

educational (kindergartens and nurseries, schools, colleges, technical schools, institutes, houses of children's creativity);

cultural and educational (museums, exhibition complexes, parks of culture and recreation, houses of culture and theaters, circuses, planetariums, zoos, botanical gardens);

special buildings and structures (administrative (police, court, prosecutor's office, authorities), monuments, memorial structures, railway stations, ports);

d) engineering structures - ameliorative structures, drainage, etc.

Each of these groups can be divided into subgroups based on disaggregation based on various typological criteria.

Man-made objects are called real estate by law, but this category of objects relies on real estate by nature.

Man-made objects may be fully built and ready for operation, may require reconstruction or capital] repairs, and may also be referred to as unfinished construction projects (“work in progress”). "Incomplete" refers to objects for which documents on acceptance into operation have not been issued in the prescribed manner. Construction in progress objects can be divided into two groups: objects on which work is being carried out, and those on which work has been stopped.

When the construction actually stops, regardless of whether the construction contract is terminated or not, the objects of unfinished construction become real estate objects. * Ownership of it is subject to registration.

Civil law does not establish any restrictions on the acquisition and transfer of rights to work in progress, but transactions with such objects can only be carried out after state registration of ownership of the object.

2.2 Classifications of residential properties

Consider the classification of residential real estate on the following grounds.

1. Marketing approach (depending on the preferences of the target groups of residential consumers and their level of solvency).

Housing of a high degree of comfort (elite). Currently, the level of elite housing in different cities is different. However, there are general requirements for housing of this type.

Domestic real estate market experts have identified seven criteria for elitism, the absence of at least one of which significantly reduces the chances of a house being called elite:

the place is bright and clean. The adjacent territory is necessarily with green spaces, a place for recreation and a playground, relatively open, but fenced and guarded. The proximity of the city square and a good view from the windows of the water and / or green spaces, proximity to the center. Location - the main criterion of elitism - is also the main factor in pricing;

material - the house must be built from reliable environmentally friendly materials using modern technologies, have an interesting architectural design, a small number of apartments (from 5 to 30). Often the elitism of a house is determined by the name of the architect;

clubbing - it is important not only where you live, but also who lives nearby. As a rule, representatives of the highest income group of the population (not representatives of the middle class) live in an elite house. The socio-cultural unit of elite housing is precisely a house with tenants (in the future, a quarter). The number of apartments on the site should be no more than two;

engineering networks should provide a comprehensive solution for energy and heat supply, water supply and sanitation, ventilation and air conditioning; the electrical input must be double. Engineering systems must be made of environmentally friendly materials, have a long service life;

infrastructure should include: underground parking from which you can get to the apartment or floor; patio or adjacent green area, shops, laundries; concierge services, cleaning of apartments, everyday life; swimming pools, saunas, sports centers, beauty salons, children's playroom; moreover, all this should be closed to the "outside world" and inscribed in the structure of the property so that residents can receive services without leaving the house;

high-end home positioning. A real elite house is a brand with its own properties: name, legend, uniqueness, difference from analogues. When a tenant of such a house pronounces its name, he no longer needs to say the address - everyone will understand what it is about;

property management. Prestige is formed not only from the above criteria, but also from the level of the management company, which must provide everyday comfort at such a level that residents constantly feel they are chosen.

Superior housing is focused on the needs and incomes of citizens, who are usually called the middle class. Consumer demand for housing of this type implies:

the possibility of accommodation in various (not only the most prestigious) areas of the city, except for places of mass construction of cheap panel housing; building height up to 9 floors; low density of surrounding buildings;

good view from the windows; the orientation of the windows of the house to more than one side of the world; the obligatory presence of accounting for the wind rose in the project of the house;

individual layout (partitions are placed at the request of the owner);

the minimum size of apartments is 50-60 m 2, and the maximum is determined by the customer; ceiling height 2.8-3.2 m; division into residential and non-residential (guest) zones; the presence of two or more isolated rooms, close to a square in configuration, and a large kitchen (at least 15 m 2 in area);

the presence of several bathrooms; engineering communications from metal-plastic;

high degree of sound and heat insulation; wooden or plastic windows with double-glazed windows of a manufacturer known for its quality; reliable metal doors;

floor construction with a concrete screed and a heating system or with insulation;

effective supply and exhaust ventilation, air conditioners, telecommunication networks, high-speed elevator, adjustable heating;

round the clock security. The complex of security devices includes video cameras, intercoms, videophones, gates controlled from the remote control and many other systems - everything that allows residents to feel completely safe at home;

car parking.

Typical housing (economy class). It is characterized by placement in any area of the city; compliance of architectural and planning parameters with modern building codes and regulations; in terms of design and technological parameters, these are panel and brick-monolithic houses.

Housing of low consumer qualities (lower economy class). Intended for the population with low solvency. Placed in non-prestigious areas and removed from the main transport communications. It belongs to the buildings of the old fund, which were not subjected to capital and repair and construction work, and the houses of the first generation of industrial housing construction. The apartments are located on the first floors of houses of other types. Underestimated architectural and planning characteristics.

2. On the basis of urban planning guidelines, the following are distinguished:

houses of the old stock, built in the pre-revolutionary period;

houses built in 1917 - late 1930s, characterized by laconic architectural and planning solutions and located in close proximity to the places of application of labor of that period, of little prestige at present, but with high structural and technological characteristics;

"Stalinist" houses, located mainly in prestigious areas remote from industrial zones;

houses of the first generation of industrial housing construction ("Khrushchev" of the 1960s) with underestimated architectural and technological parameters;

houses of the second generation of industrial housing construction, built in the 1970-1980s, when higher norms and standards were used in urban planning;

modern residential buildings with a wide variety of characteristics.

3. Depending on the material of the outer walls of the building, houses with brick walls, panel, monolithic, wooden and mixed types are distinguished.

4. Depending on the duration and nature of use, housing is allocated:

primary - place of permanent residence;

secondary - suburban housing used for a limited period;

tertiary - intended for short-term residence (hotels, motels).

Now, at the beginning of the third millennium, the attic has gained a second life in Russia, which can be designed as an integral part of a multi-level apartment (it can accommodate a children's rest room, a bedroom, a fireplace room or a winter garden) and as an independent living space and, accordingly, can be registered as real estate object.

Recently, efficient houses on the roof - penthouses - have appeared on the residential real estate market. The "ancestral" features of the penthouse: the last floor, own elevator, glass walls and an orpomny terrace with landscape design, where a tennis court or an orchard can be located. A spectacular panoramic view is required, the area is at least 150-200 m. It is important that the whole house is elite, built on an individual project.

2.3 Classification of low-rise residential complexes and individual residential buildings

There is no general classification for suburban real estate. The absence of common terms and standards allows suburban housing market participants to interpret these mines in different ways: a low-rise residential complex, an individual residential building, etc.

A low-rise residential complex is a residential area with more than five houses, built as part of a general master plan, having a common social and engineering infrastructure, a single management and maintenance service. These are the so-called conceptual cottage settlements.

The main criteria that determine the classification of conceptual low-rise complexes:

urban planning criterion;

area and quality of housing;

dimensions of a low-rise residential complex;

infrastructure.

According to the urban planning criterion, low-rise complexes are divided into three types: quarters consisting of detached houses; neighborhoods consisting of townhouses, and neighborhoods consisting of multi-family low-rise buildings. In practice, quarters that can be attributed entirely to any one type are rare.

Area and quality of housing. Houses in low-rise residential complexes are of different quality: some are solid structures that will stand for more than one century, while others are a frame filled with insulation and sheathed with siding. The area of apartments and houses also differs: there are houses with an area of 150 and 400 m 2. You can build a low-rise building with one-room apartments, or you can build apartments of 200-300 m 2 each.

Complex dimensions. In some complexes, houses are concentrated in a small area, while in others there is a huge territory, a significant part of which is not occupied by buildings. A plot of 20-40 acres is the most in demand, as it makes it possible to be at a reasonable distance from neighbors.

infrastructure criterion. Guided by it, we can conditionally distinguish three types of low-rise buildings:

low-rise complexes, in which the infrastructure is practically absent, and the area of free territory is minimal;

low-rise complexes with a minimum set of infrastructure elements (there are currently most of them). As a rule, these are several houses with common security and maintenance service. Often there is a shop on the territory of such complexes.

low-rise complexes, rich in infrastructure, there are children's, social, cultural institutions, natural household, engineering and entertainment structures. The territory is guarded.

Small low-rise club-type complexes, cottages, which rarely appear on open sale, stand apart.

Choosing low-rise complexes, people seek not only to buy spacious and high-quality housing, but to lead a certain lifestyle.

A townhouse - an apartment building - appeared on the Russian market relatively recently. Often a townhouse is equated with a cottage, which is not entirely true, since it is not a country house, but a city house. The term "townhouse" refers to a house with separate entrances, having one or two common walls with neighboring houses and a common foundation, sometimes with a plot of land (always very small). Houses are usually lined up in a chain of 6-12, the outlines depend on the size and configuration of the land. Since townhouses qualify as apartment buildings, they are subject to the legislation governing the position of such objects. The relationship between the owners of premises in townhouses develops similarly to the relationship of apartment owners in an apartment building

Currently, on the suburban real estate market they offer land plots cut for development, calling it cottage settlements. Of course, in such a village, conditions for normal living will not arise soon. We'll have to put up with the surrounding "unfinished" for many years. There is no need to talk about a single architectural structure from a spontaneous village - most often these are variegated houses of different heights: a small wooden house and three-story brick mansions can stand nearby. The social homogeneity of the population is low here. The future liquidity of the objects is also doubtful.

The typology of individual residential buildings (IZHS) is based on the purpose of the house.

An individual house intended for permanent residence should provide its owner with the same amenities as a city apartment. And we are talking not only about engineering communications (water supply, main gas, sewerage, telephone), but also (in turn) about social infrastructure.

A country house designed for weekends at any time of the year does not need such a rigid binding to the attributes of urban comfort, however, it will require constant efforts from the owner to maintain the condition. A house of this type (in which people live two or three days a week, regardless of the season) can be located in a guarded holiday village, but preference is given to those arrays where there are permanent residents. In this case, the set of mandatory amenities and communications is minimized (stove heating, electricity, drinking water), and a Russian or Finnish bath (a matter of the owner's taste) can be preferred to the bathroom.

The country house should be wooden and needs a well-thought-out scheme of conservation for the winter, maximum protection from the encroachments of uninvited guests and a certain set of household amenities. Since a potential dacha owner spends a significant part of his time outdoors during the warm season, it is of great importance to equip the area adjacent to the house for outdoor activities.

The fourth group, which is becoming more and more widespread in Russian conditions, includes objects that are fully or partially intended for commercial operation.

These include representative houses-offices, as well as residences intended both for recreation and for the reception of business partners. In addition, farms, as well as houses for small businesses. As a rule, all these buildings with outbuildings or built-in premises where customers can freely access: small private shops, cafes, gyms, consumer service rooms, auto repair shops, etc. When designing such objects, the private "owner's" and commercial zones are demarcated. This category also includes cottages intended for rent, private mini-hotels, practical guest houses with beds and rooms for guests. Such objects are subject to the requirements of maximum functionality and practicality.

You can also classify the suburban housing market and the price category. In different regions, this division can vary significantly. However, in all regions, country houses can be divided into two parts: mass, "inexpensive" housing and elite houses.

2.4 Classification of commercial income generating properties

Commercial real estate objects are divided into income-generating and creating conditions for its extraction - industrial (industrial).

Income-generating objects include retail facilities, hotels and entertainment centers, offices, garages, etc.

1. Objects of trade. A multifunctional shopping complex (MTC) is a commercial real estate object, the owner of which does not conduct trading commercial activities aimed at the final buyer, but transfers the areas prepared for implementation to a variety of retailers, and not only retail operators, which may include service organizations, public catering and leisure. Sometimes hypermarkets and supermarkets, department stores and even markets are called shopping malls, but this is wrong.

A supermarket is a store located in a separate building or as part of the MTK, operating on the principle of self-service in the main product range, with an automated commodity accounting system and a single cash and settlement unit, with an area of at least 1 thousand m 2 and an assortment content of at least 5 thousand trade names.

A hypermarket is a supermarket with an area of at least 4 thousand m 2, located, as a rule, in a separate building, rarely in a part; MTK, and assortment content of at least 10 thousand trade names, including non-food range.

A department store is a trade organization located in a separate building or in a building built into a residential building with an area of 1 less than 1 thousand m 2, offering a complete assortment range, sold in separate sections, each of which has its own cash settlement unit, united by a single management and rules for the placement of assortment by area.

More about movable and immovable

The legislation of the Russian Federation does not provide a clear definition of the terms movable and immovable property. And this is not a mistake in the legal system, the reason is different: these concepts can move from one to another. Sometimes, in order to figure out what applies to a particular type of property, you need the help of lawyers. Movable property under Art. 130 of the Civil Code of the Russian Federation - everything that is not real estate. That is, first of all, it is:

any banknotes;
most vehicles;
rare and museum items;
collectibles;
weapon;
temporary outlets;
some large equipment.

In some cases, a bathhouse and a garage may have the status of movable things. From the point of view of insurance companies, such a building is real estate. The list also includes promissory notes and shares in business. But basically the designation of movable things comes down to the fact that:

their movement does not change the structure of these things;
things are completely or partially interchangeable, as they are not unique;
often there is no need to obtain state registration for a thing;
Many movables are exempt from property tax.

In controversial issues, especially when dividing property, due to the special characteristics of the thing, any item listed can be rethought.

What is a property

Regarding what real estate is, the existing formulations are much more precise. They are also vague, but less often than the definitions of movable property. The object of immovable property according to the Civil Code:

residential and non-residential buildings;
Earth;
bowels of the earth;
reservoirs;
ships - air, space, sea.

That is, first of all, everything that is inseparable from the earth and cannot be transferred without damage to the thing itself, so that it will no longer be possible to use it. Dachas, apartments, sheds, houses or outbuildings, land and even water bodies classified as real estate, albeit with a stretch, do not need to be clarified. But the bowels of the earth, minerals and underground keys, are legally assigned to the state and are classified as real estate; mining companies are referred to as subsoil lessees.

An ordinary citizen has nothing to do with any courts, but such an object can be obtained through various civil obligations and rights - inheritance or winning the lottery. Vessels, according to the Civil Code of the Russian Federation, fall under the types of real estate as having premises in their design suitable for permanent and temporary residence - cabins, compartments, etc. and must have state registration.

Introduction

Real estate objects occupy a special place in the system of social relations, since economic activity and priority relations of people in all spheres of their activity are directly or indirectly related to them.

Today, it is real estate objects that seem to be the central link in the system of the country's market economy. And this is understandable - a real estate object is not only a special product, but at the same time capital that generates income, and the basis for the provision of services in order to conduct effective business activities.

Real estate economics is a system of relationships that arise in the course of real estate transactions.

Knowledge of the discipline is necessary in the preparation of modern specialists, since any professional is currently faced in practice with the processes taking place in the real estate market.

The main goal of the guidelines is to provide students with knowledge about the nature of real estate objects, legal aspects of real estate economics, basic operations and approaches to real estate appraisal, features of the real estate market and types of business activities on it.

The concept of real estate and its object

Definition of the concept of real estate

The concept of "real estate" is inseparable from another concept - "property".

Property - a set of property, i.e. subject to monetary value, legal relations in which this person (natural or legal) is located.

Property belonging to any natural or legal person is divided into:

asset: a set of things belonging to a person by the right of ownership or by virtue of another real right; a set of rights to other people's actions (for example, debt property);

liability: a set of things belonging to other persons, but temporarily in the possession of this person; the totality of the obligations of the person.

Historically, since the time of Roman law, property has been divided into movable and immovable.

According to Art. 130 of the Civil Code of the Russian Federation (hereinafter referred to as the Civil Code of the Russian Federation) “immovable things (real estate, real estate) include land plots, subsoil plots, isolated water bodies and everything that is firmly connected with the land, that is, objects whose movement without disproportionate damage to their purpose impossible, including forests, perennial plantations, buildings, structures.

Immovable things also include aircraft and sea vessels subject to state registration, inland navigation vessels, and space objects. Other property may also be classified as immovable by law.

Modern Russian legal practice has established a number of signs by which a physical object can be classified as real estate:

strong connection with a certain land plot (impossibility of moving an object without disproportionate damage to its purpose);

completeness in terms of the possibility of using it for its intended purpose;

· certified (officially registered) belonging to a specific owner - the state, a subject of the Federation, a municipality, an individual or a group of individuals;

the possibility of physical separation of the real estate object and real estate (i.e. the presence of clearly defined physical boundaries of the real estate object);

functional independence of the property (is it possible to use this property separately from other objects, or its functional purpose involves the partial use of other properties);

the presence (or absence) of easements and other restrictions on the rights of use.

Things not related to real estate, including money and securities, are recognized as movable property. Registration of rights to movable property is not required, except in cases specified in the law.

Real estate object

"Property" contains two bases - physical and legal. The physical basis of this concept is based on the material component of real estate, namely: buildings, structures, land plots, subsoil, etc. All that "is an object that is connected with the earth in such a way that its movement without disproportionate damage to its purpose is impossible."

The legal part lies in the field of realization of the rights arising from transactions with real estate and its use.

Due to depreciation, the property loses its liquidity - "the possibility of implementing any method of turning real estate into money" - this is the legal component of the concept. Each property has its own cadastral number, a process called "inventory of the property" is applied to it. It is characterized by "inventory" - the history of the emergence and change of the property. All of the above applies to the legal part of the definition of real estate.

The objects of civil rights include things, including money and securities, other property, including property rights; works and services; information; results of intellectual activity, including exclusive rights to them (intellectual property); intangible benefits.

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