The Basics of Real Estate Law: And What You Need to Know The by the book definition of real estate would probably be a property that consists of land, as well as the structures around it, including the natural resources naturally found in the area. But perhaps the more common definition of real estate is the profession of selling, buying or renting land, including structures erected on it such as buildings and housing. Most people that are engaged in the trade of real estate, consider the profession to be one of the safest investments out there. But before getting acquainted with the whole real estate investment business, one must first familiarize his or herself with the laws surrounding the trade, known as real estate law. Understanding real estate law, or even the basics of it guarantees for fast and smooth transactions of properties. Whether you are selling or acquiring a property, you need to have a basic knowledge of the laws, procedures and necessary documents surrounding it. Real estate is one of the most dated laws in existence, and this originally resulted to it being very archaic for most people. Naturally, people found that studying real estate law was a difficult matter, but this is not the case anymore today, due to the rights and responsibilities surrounding real estate law being updated. Perhaps the most basic rule of real estate law is owning real property. As real estate law states, you have the right to do anything you wish to do so with your property, as long as you are not violating preordained real estate laws. Selling the land, leasing it, renting it to some people, transferring its ownership, even using it as a collateral for loans, and just plain giving it away is legal under real estate law. But with real estate law, when owning a property, you also face imposition of restrictions. The most common real estate laws are listed below, but depending on what state or part of the world you are situated in, it may vary. An indispensable part of real estate law is zoning laws. The zone where your property is located plays a huge role when erecting a structure on said property. The different types of zones are residential, industrial, agricultural and commercial. Another essential component of real estate law you need to keep an eye out for is the risk of environmental hazards. This is the restriction on what materials can be stored on the property, and who is in charge of disposing them. Right of ways and public easement are another part of real estate law. Providing access to other surrounding real estate by way of pathways, roads and sidewalks.