Unit 9. Real Estate Management Introduction

1. Study the following passages taken from the text paying attention to the highlighted words. Try to guess the meaning of these words.

1. Land is affected by laws that regulate the orderly transfer of real estate.

a) made especially for smb

b) having to be done

c) well arranged

2. Land is the earth's surface extending downward to the center of the earth…

a) top part of smth

b) flat part of smth

c) obvious part of smth or smb

3. The term real estate includes also anything that is permanently affixed to the land.

a) fixed smth damaged

b) fixed one thing to another

c) put smth in an order

4. Items attached to the land by a root system are considered natural attachments.

a) connected

b) joined enclosed

c) in love

5. Artificial attachments are normally those things that have been placed on the land by people.

a) natural

b) not sincere

c) made by people

6. Improvements may be embedded in the land…

a) fixed firmly into a substance

b) down below the surface of a liquid substance

c) put into the ground and covered

7. This term broadens the definition of real estate to include the bundle of legal rights...

a) a number of things held together

b) a group of things dealt with at the same time

c) set of things that have been designed to fit inside each other

2. Read the following text. What is the product/service the real estate business deals with? What are the differences in the meanings of the terms ‘land’, ‘real estate’ and ‘real property’?

Land, Real Estate and Real Property

You may have heard the terms land, real estate, and real property used interchangeably. Though they may seem to be describing the same thing, there are important differences in their meanings.

The land is commonly thought of as the ground or soil, but from a legal point of view, land ownership also includes possession and control of the minerals and substances² below the earth's surface together with the airspace above the land up to infinity³. Thus, land is the earth's surface extending downward to the center of the earth and upward to infinity, including those things permanently attached by nature, such as trees and water.

The term real estate is broader than the term land and includes not only the physical components of the land as provided by nature, but also anything that is permanently affixed to the land by either natural or artificial attachment.

Items attached to the land by a root system are considered natural attachments. Fructus naturales (real property) are products of the earth that are naturally grown and require no annual labor or cultivation, such as trees or bushes. Fructus industriales (personal property) are products of the earth that require annual planting or cultivation, such as unharvested⁴ wheat or vegetables.

Artificial attachments, called improvements, are normally those things that have been placed on the land by people. Improvements may be embedded in the land, such as walls, in-ground swimming pools, water and gas lines; placed or resting upon the land, such as building slabs⁵, driveways, streets, and patios; erected on the land, such as buildings and towers or any other man-made additions to property.

Real estate, therefore, is defined as the earth's surface extending downward to the center of the earth and upward into space, including all things permanently attached to it by nature or by people.

In practice, the term real estate is most often used to describe that commodity with which real estate as a business and the real estate broker and salesperson are concerned. It is sometimes referred to as realty.

The term real property further broadens the definition of real estate to include the bundle of legal rights involved in real estate ownership. Thus, real property is defined as the earth's surface extending downward to the center of the earth and upward into space, including all things permanently attached to it by nature or man, as well as the interests, benefits, and rights inherent in its ownership.
Notes: body¹ – совокупность, substance² – вещество, infinity³ – бесконечность, unharvested⁴ – неубранный (об урожае), building slabs⁵ – строительные панели

Vocabulary Focus

3. a) Match the following words with the correct definitions.

a) real estate	1 earth's surface with those things created by nature
b) real property	2 one thing that can be added to another
c) land (legal)	3 the earth's surface with all things permanently connected to it, as well as the benefits and rights inherent in its ownership
d) earth	4 not caused, made, or controlled by human beings
e) natural	5 made by people
f) artificial	6 to join or connect
g) attachment	7 the claim which a person has to be treated in a legal way
h) improvement	8 to fix one thing to another, or to add
i) attach	9 the earth's surface with all things permanently connected to it
j) affix	10 things placed on the land by people
k) right	11 the dry surface of our planet rather than the sky or sea

b) Use the words above to complete the summary of the text. Put these words into the correct form.

Although most people think of 1) ___ as the surface of the 2) ___, the definition of this word not only applies to the 3) ___’s surface but also includes everything below the surface and the air above the surface. 4) ___ ___, on the other hand, refers to the 5) ___’s surface, everything below and above it, plus all things permanently 6) ___ to it. The term 7) ___ ___ further expands this definition to include all 8) ___ and 9) ___ ___ ____ to the land and those 10) ____ owned by the land and used by the land for its own benefit.

4. Work in pairs. Pay attention to the following words which are very close in the meaning: land, soil, ground, earth. Choose the correct variant and explain your choice to your partner.

1. We placed a rug on the land / soil / ground / earth for the picnic.

2. It is cheaper to drill for oil on land / soil / ground / earth than at sea.

3. They piled the land / soil / ground / earth and stones from the hole against the wall.

4. The land / soil / ground / earth in our country is not fertile.

5. We want to buy a plot of land / soil / ground / earth to build a house.

6. The land / soil / ground / earth was frozen hard and was impossible to dig.

5. a) Match the English and Russian equivalents.

a) law	1 вещество
b) substance	2 товар
c) extend	3 закон
d) commodity	4 недвижимость
e) realty	5 простираться
f) fixture	6 движимое имущество, соединенное с недвижимым

b) Complete the sentences using the words given above.

1. The country's most valuable ___ include tin and diamonds. 2. Don't forget there's a ___ about exporting certain antiques. 3. The path ___ beyond the end of the road. 4. The ___ for sale includes 2,000 acres of undeveloped land. 5. Polluting ___ are found in many rivers. 6. All ___ and fittings are included in the house price.

c) Work in pairs. Using these words make up the sentences of your own for your partner to translate.

6. Match words from each box to make word partnerships. Make sure you can translate them.

transfer	earth’s	estate	of view
bundle	body	slab	surface
building	from a legal point	of laws	owner
property	real	of land	of legal rights

7. Use the words given in capitals at the end of each line to form a word that fits in the space in the same line.

1. Rates of home … have remained relatively constant.	OWN
2. The … of large amounts of money does not ensure happiness.	POSSESS
3. He and his family have settled … in the States.	PERMANENT
4. The road slopes gently … for a mile or two.	DOWN
5. Flying … they broke through the cloud into sunlight.	UP
6. There are risks … in almost every sport.	INHERIT

8. Match the definitions below to words in the text. Then use the words in sentences of your own.

1. one of the people or groups of people involved in an official arrangement (paragraph 1)

2. the thing or things that someone owns (paragraph 1)

3. to have an influence on (paragraph 1)

4. a chemical substance such as a rock which is formed naturally in the ground (paragraph 3)

5. the preparation and use of land for growing crops (paragraph 5)

6. to build a building, wall or other structure (paragraph 5)

7. a person whose job is selling things directly to customers (paragraph 7)

Comprehension

9. Read the article again and pay attention to the constituent parts of the terms 'land', 'real estate' and 'real property'. List them under the appropriate headings in the table below.

land	real estate	real property
	earth's surface extending upward into space
all things permanently attached to the earth by nature

10. Answer the following questions.

1. Which notions does the real estate business center around?

2. Which role does property legislation play in the real estate business?

3. Which constituents differentiate land from real estate?

4. Which term is broader, real estate or real property?

5. Which commodity does the real estate business deal with?

11. Make a short summary of the text. See Writing and Speaking Files pp. 207-209, 227-228.

жүктеу/скачать 2.22 Mb.

Достарыңызбен бөлісу: