Real estate is land and anything growing on, attached to, or erected on it, excluding anything that may be severed without injury to the land. Real estate can be wither corporeal (soil and buildings) or incorporeal (easements). It is also known as realty or real property.

Real estate can be divided into several categories. With the exception of residential real estate, all other forms are generally used for investment purposes (although the same may be done with residential real estate). Real estate types:

	Single Family Homes
	Town homes
	Condos
	Office Buildings
	Shopping & Strip malls
	Industrial & Storage
	Agriculture
	Raw undeveloped land

Property signifies dominion or right of use, control, and disposition which one may lawfully exercise over things, objects, or land. The basic dividing lines are between real property and personal property. Generally, the term real property refers to land. Land, in its general usage, includes not only the face of the earth but everything of a permanent nature over or under it. This includes structures and minerals.

There are further divisions within the following:

	Real property classification: The most important are freehold estates, non-freehold estates, and concurrent estates. (Others are future interests, specialty estates, and incorporeal interests).
	Freehold estates: are those in which an individual has ownership for an indefinite period of time. An example of a freehold estate is the "fee simple absolute", which is inheritable and lasts as long as the individual and his heirs want to keep it.

Another example is the "life estate", in which the individual retains possession of the land for the duration of his or her life. Non-freehold estates are property interests of limited duration. They include tenancy for years, tenancy at will, and tenancy at sufferance. Concurrent estates exist when property is owned or possessed by two or more individuals simultaneously.

For the most part, the states have exclusive jurisdiction over the land within their borders and the laws concerning that land. How these laws are created is at the discretion of that states’ legislature.