Real Estate

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Abstract

Real estate is one of the largest industries in North Carolina, representing billions of dollars of the state's economy and touching the lives of millions of North Carolinians, from first-time homeowners to large corporations such as Charlotte's Summit Properties, owners of some 50 apartment complexes in the Southeast. In North Carolina law, real estate, as distinguished from personal property, is land; anything permanently attached to land, such as buildings, fences, trees, grass, shrubs, minerals, and other substances beneath the surface; and the airspace above land. The real estate industry in the state is made up of real estate brokers and salespersons, who market real property on behalf of owners. Many more people work in appraisal, architecture, building, contracting, mortgage finance, market analysis, and related fields.