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Real estate law is multi-categorized and is governed by a lot of different facets. “Real” refers to real property. This is land and the things that are permanently a part of the area, that is, what is attached. There is a great deal of ownership liability that goes to third-parties as well, such as land owners paying mortgage on a house to a lender. This is probably the most common liability that is known. If the owner does not pay, then they default on the loan and the lender, such as a bank can claim the property as payment.