Real Estate Law: What You Need to Know Real estate is defined as the property consisting of land and the structures around it, as well as natural resources surrounding it. But more commonly, real estate is known as the profession that is concerned with selling, renting or buying property, mainly land, buildings and housing erected upon it. Many people claim, especially businessmen that real estate is one of the safest investments one can make out there. However, before starting to invest or even take interest in the real estate business, one must understand 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 laws were once originally very archaic laws, mostly due to the fact that it is a very old law that still exists. 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. One of the basic rules of real estate law is owning real property. Real estate law states that when you own a property, you have the absolute right to do what you want with it, as long as it does not violate some 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. When you own a property, under real estate law, you also face the imposition of restrictions. There are different real estate laws that can vary from what state or part of the world you are in, but the most common are probably the ones listed below. An indispensable part of real estate law is zoning laws. You are only allowed to erect a structure with regards to the zone it is situated in. Zoning types vary from residential, commercial, industrial and agricultural. Another thing you also need to look out for in real estate laws is environmental hazards. Environmental hazard in real estate law is concerned on what materials are allowed to be stored on a property, and when disposal is concerned, who is in charge of the process. Public easement and right of way are also an essential part of real estate law. Roads, sidewalks and pathways should be present in any real estate to provide access.