These are the types of properties that exist:
Making a real estate investment in Islamabad Pakistan requires in-depth research on different topics related to law, the economy, types of financing, sales and leases. Due to this, for those who are not familiar with the process, or have not been able to carry out a concrete analysis of the different necessary concepts, this research may seem confusing and could lead you to make mistakes that can affect both your investment and your economy.
Definition of Real Estate:
Real estate is the soil and those buildings or objects that are attached to it. In land or property for sale in Bahria Town or another town, the concept of real estate not only includes the house built on the land, but real estate is also considered, for example, plants and trees, statues, reliefs, paintings or ornaments, among other objects, that are located within it and that are not separated from the building. Thus, this type of property includes any object that is attached to a property in a fixed manner and that cannot be removed without damaging either part.
Real estate by destination and by analogy:
When buying a property, many times real estate is included by destination. This type of objects belongs to the owner and is considered essential for the use and exploitation of the property or land; thus, there are four ways in which a real estate can be exploited: agricultural, industrial, commercial and civil. There are many builders like Zem Builders who develop too many projects and here you can buy a property.
Real property by nature and by incorporation:
Real estate by nature, as its name says, refers to those whose main characteristic is that they cannot be moved, such as soil and subsoil on land, so they have been there since before construction or modification. On the other hand, immovable property by incorporation refers to those constructions that are added to a piece of land and which, being attached to immovable property by nature, also become immovable.
Real estate by accession and by representation:
Real estate by accession refers to objects that, at first, can be moved and placed in different places, but when installed in real estate, they become part of the structure, allowing access to their owners, or being used for practical purposes within construction. For example, doors, windows, containers, mobile warehouses.
Real estate by representation is those documents that accredit a person, or group of people, as owners of an asset, be it a house, apartment, land or other types of objects.
The deeds of a house, or the proof of the Public Registry of Property and Commerce, for example, can be considered real estate by representation since they belong to a house and are considered part of it.
Obligations when acquiring real property:
Depending on the method used to acquire real property, the owner must meet certain obligations to productively close the deal and avoid problems.
For example, when you finish paying a mortgage, you must pay the necessary taxes, write the property deeds, register with the Public Registry of Property and Commerce and, if you have purchased the property for By means of a mortgage loan, informing the employer of the completion of the debt, so that the monthly discounts are no longer applied to the worker’s salary.
Likewise, when signing the sale contract, an investor should carefully review what type of property he is acquiring and clarify how he will use it to avoid legal problems and the loss of his investment.
Take these characteristics of the types of real estate into account to make the best decision and avoid cheating when buying a property as equity for the future.