Land, including permanent improvements on that land, is known as ___________. (14-1)
To fill: The blank space in the statement. “Land, including the permanent improvements on that land is known as ______”.
Solution:
The complete statement is, “Land, including the permanent improvements on that land is known as real estate”.
Real estate is defined as land including air above and land below.
All the permanent transformation done on the land like building houses, apartments, hotels, shopping complex or any other real property comes under real estate.
Thus, land, including the permanent improvements on that land is known as real estate.
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