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Actual estate is a particular instance of actual property Actual property, a broader term, consists of land, buildings and other improvements – plus the rights of use and enjoyment of that land and all its enhancements. Renters and leaseholders might have rights to inhabit land or buildings that are thought of part of their personal property, but will not be considered real estate. Baker Katz, a Houston commercial real estate agency, has bought the property from a Philadelphia financial firm that acquired mall out of chapter a few decade in the past. The developers said they intend to make improvements, however will first spend time finding out what the property wants most.