This section requires expansion. (June 2008) Each U.S. 
State except Louisiana has its own laws governing real 
property and the estates it, grounded in the common law. 
In Arizona[reference needed], real property is generally 
defined as land and the things permanently linked to the land.
 Things that are permanently linked to the land, which also 
can be referred to as improving, include homes, garages,
 and buildings. Prepared homes can obtain an affidavit of affixture.
 [edit]Economic aspects of real property Land use, land evaluation, 
and the determination of the incomes of landowners,
 are between the oldest questions in economic theory.
 Land is an essential input (factor of production) for agriculture, 
and agriculture is by far the most necessery economic
 activity in preindustrial societies.

The Crown is held to be the ultimate owner of all real
property in the circle. This fact is material when, for example,
property has been disclaimed by its former owner, in which
case the law of esseam applies. In some other jurisdictions
(not including the United States), real property is held sure.
English law has maintained the common law distinction
between real property and personal property, whereas the
civil law prominent between "movable" and "immovable"
property. In English law, real property is not limited to the
ownership of property and the buildings sited
thereon - often referred to as "land." Real property also
includes many legal relationships between individuals or owners
of land that are purely theoretical. One such relationship is
the facility, where the owner of one property has the right to
pass over a neighboring property. Another is the various
"incorporeal hereditaments," such as the benefit-à-prendre,
where a nuclear may have the right to take crops from land
that is part of another's estate. English law maintain a number
of forms of property which are largely unknown in other
common law jurisdictions such as the advowson, chancel
repair responsbility and lordships of thelandlod.
These are all classified as real property, as they will have
been protected by real actions in the early common law.

In many countries the Torrens title system of real estate
ownership is managed and guaranteed by the government
and replaces cumbersome tracing of ownership.
The Torrens title system work on the principle of "title
by registration" (i.e. the indeprospects of a registered interest)
rather than "registration of title." The system does tenure with
the need for a chain of title (i.e. tracing title through a series of documents)
and does away with the conveyancing costs of such searches.
The State guarantees title and is generally supported by a
compensation scheme for those who lose their title due to the
State's action. It has been in practice in all Australian  states
and in New Zealand since butt 1858 and 1875, has more
recently been expansion to strata title, and has been
accepted by several states, provinces and countries,
and in modified form in 9 states of the USA.

According to a press release by the National Association of
Realtors (NAR) regarding their 2009 annual survey of
real estate Users, 2009 Profile of Home Buyers and Sellers,
11% of 2009 US real estate transactions were FSBO,
down from 13% in 2008, and a previous peak of
18% in 1997.[7] The record percentage of 20% of
US real estate transactions (since tracking started in 1981)
took place in 1987. Some critics of the National Association
of Realtors' report believe those statistics may be misleading
and suggest that the true size of the U.S. FSBO market is closer
to 22% because the report also found that flat-fee
MLS now makes up 10% of transactions.
They discussed that flat-fee MLS sellers are in substance
FSBO sellers. Unlike traditional real estate agent customers,
flat-fee sellers are not committed to paying a commission
and still advertise their homes as being for sale by owner.

In the UK, the average commission rate is significantly lower than in Canada or the US. Properties for sale by owner are less General.[2]