Property refers to any physical and immobile non-living that is owned by one single person or by a group of people. The owner of the property exercises the right of consuming, selling, renting, mortgaging, transferring, exchanging and destroying his or her property as per his or her will. Property is a universal term that has been widely recognized and acknowledged with categories that include real property, personal property, private property, public property and intellectual property. These types of property have identified and recognized their names under the laws of the land that endow some rights that conceive of ownership and possession. Land sale in real estate refers to the sale of any type of land that might be rural or urban. For centuries in the United Kingdom, the term Letting has been referred to a system where the letting agent acts as a facilitator who makes agreements between a landlord and a tenant for the rental of a residential property. Residential property is one that is designed for residence. A residential property can be put out on sale or rent for those seeking room for privacy. In the United Kingdom, an agreement is made between the landlord and the tenant once formalization has been made by the signing of a Tenancy agreement and thereby promising to not withdraw from the decision made. Renting can be short term as well as long term. Short term rental would be for a few days or weeks while long term rentals would be for long time periods ranging from months to even years. Renting involves any property, real or non-real. Real property would comprise of agricultural land, residences, business land, government land et cetera while non-real property comprises of items like DVD or audio CDs, transport equipments, tools, bicycle, deckchair, beach chair et cetera.
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