Hello everyone!
This is a new section of the blog I like to call Real Estate 101. In these blog posts, I will answer common questions I get from buyers and sellers, for all to learn from. As your local Sooke and West Shore real estate expert, I am happy to answer any questions you might have. Please send all questions to tim@timayres.ca or as a comment on this blog, and I will answer them in e-mail as well as on the blog as soon as I can!
For the first article, I’d like to talk about where the term real estate comes from.
The origin of the term real estate came from the day when the Crown literally owned all the land in the country. It was called the “Regal Estate.” To this day, the Crown grants land owners certain rights to use the land, the most familiar to a home owner being the fee simple estate, which is the highest form of land ownership a person in Canada can have. However, from a strictly legal sense, the Crown still ‘owns’ all of the land in Canada; what home owners “own” is the right to occupy and use their land.