Real Estate, Real Estate and Leased Land

Delaware and the rest of the original British colonies have lands that are leased rather than owned by the residents of those lands. Much of this is not obvious to the casual observer.

The Lewes Beach land is leased and not owned by the owners. Lewes Beach land is owned by the City of Lewes. Rehoboth by the Sea and Dewey Beach lands also include leased lands. Most leases on this land will NOT be renewed, but will be returned to the owners and the owners will remove the homes on this land at their own cost. Much of the land in Riverdale, on Indian River Bay, next to Oak Orchard, is also up for rent. In Riverdale, the leased land belongs to Chief Clark of the Nanticoke Indians.

About half the people of Sussex County live on leased land; most of this leased land is in what people call parklands or mobile home communities. However, in these communities there are rarely truly mobile homes and there are even two-storey wooden houses on some of the leased land in these communities. Condominiums and townhouses are also sometimes found on leased land. Some people find all of this quite difficult to understand.

We real estate agents and lawyers use the term simple fee to describe land that is sold as real estate; it’s real estate We use the term leased land or leasehold interest to describe land that is not conveyed as real property.

This lengthy text covers leased land, real estate, private property, personal property, mobile homes, dwellings on leased land, and a legal dissertation to define, describe, and determine the differences.

Terminology is important when talking about real estate, that is, real estate.

Black’s Law Dictionary is the definitive and recognized source of legal definitions under our US law; which derives from English law

PROPERTY: In the strict legal sense, a set of rights guaranteed and protected by the government. BL6, p. 1216.

PERSONALITY: Personal Property; movable property; movable property; property that is not attached to real estate. BL6, p. 1144

PROPERTY: (movable property) – In the broad and general sense, all that is possessed, not entering under the name of building. Inferior right or interest in absolute ownership of real property, or any right or interest held in movable property. BL6, p. 1217

Therefore, movable property is one that can be easily removed from ownership and is not property. Personal property includes crops, trees, shrubs, trailers, sheds, cars, mobile homes, manufactured homes that have a Department of Motor Vehicles title instead of a deed, and the contents of a house or building. In a home or business, personal property includes drapes, light fixtures, carpeting (carpeting not installed), cabinets and freestanding closets, furniture, and all contents of closets, drawers, and buildings. Buildings without foundations, i.e. sheds that are only supported by blocks, are personal property, i.e. they are personal property and not part of real estate . These personal possessions include dog kennels and especially the small storage buildings that are so common outside homes today.

GROUNDS: In the most general sense, includes any soil, soil or ground whatsoever… Black’s Law Dictionary 6th Ed. (BL6), p.877

PRIVATE PROPERTY: Under protection against appropriation for public use, it is the property which belongs absolutely to an individual, and of which he has the exclusive right to dispose. Assets of a definite, fixed and tangible nature, capable of being possessed and transferred to another, such as houses, land and furniture. BL6, p. 1217. Private property is land, houses and furniture. Private property is protected against misappropriation for public purposes. Private property is absolute property.

REAL ESTATE synonym of immovable property” and p.1218 REAL ESTATE … General term designating land, leases, inheritances (those things which are hereditary); which, on the death of the owner ab intestate, passes to his heir”. BL6, p1263

ASSETS: The degree, amount, nature and degree of interest a person has in REAL and MOVEABLE property.