Property Ownership
What is 'real property' versus 'real estate' versus 'realty' in Nevada law?
AThey all mean exactly the same thing in Nevada law
BReal estate refers to the physical land and improvements; real property includes all rights, interests, and benefits in real estate (the bundle of rights); realty is a common informal term used interchangeably with both✓ Correct
CReal property is only the land; real estate includes the improvements
DRealty refers only to commercial property in Nevada
Explanation
These terms are closely related but technically distinct. Real estate is the physical, tangible land and structures.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Tenancy in CommonCo-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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