Property Rights

Real Estate is defined as "Land and anything permanently attached to the land."

Real property is "Any property that is attached directly to land, as well as the land itself. Real property also includes rights and interests."

The main difference between Real Estate and Real Property is that the latter includes intangible interests to the property.

http://articles.latimes.com/2012/jan/03/nation/la-na-wetlands-court-20120103

This article gives a real-life example of a property rights dispute. It describes how an Idahoan couple bought a residential lot across the road from a scenic lake so that they could have a distant view of the water. Instead of building a home, however, they became locked in a legal battle with the EPA over the property rights of the lot. The EPA argued that the lot was protected wetlands, and thus unsuitable for building a residential home.

This article is a great example of how potential real estate purchasers need to know every little fact about the land they are about to buy, or possibly face thousands in legal expenses.

Private Restrictions on Real Estate

A restriction is a limitation on the use of real property. Private restrictions are between private parties and are in the form of covenants, conditions, and restrictions contained or referenced in instruments of conveyance or contained in specific planned community rules.

http://lvglawfirm.com/lawyer/2014/08/06/Real-Estate/Sale-of-Building-Stymied-by-Age-Old-Covenant_bl14577.htm

Te above link leads to a case involving a 186-year-old restrictive covenant. It is a great example of how easily covenants can block real estate transactions.

Public Restrictions on Real Estate

Public restrictions on real estate arise from the government's powers of: taxation, eminent domain, police power, and escheat.

http://www.timesdispatch.com/news/henrico-loses-eminent-domain-dispute-with-property-owner/article_0503ac10-55e2-5c6b-8bae-fd725d9b5bce.html

The above article describes how a person got a more favorable compensation for her land after challenging the eminent domain in court.