Real Estate — Is It Real?
Sure, you can touch it, stand on it, and even sleep on it. But did you know that the “real” part of the term “real estate” is not similar to the “real” in the “real thing?” Does it mean that your real estate agent is unreal, imaginary, or might change his contact number when you need him the most? But you paid real money for the down payment, didn’t you?
To clear things up, here is a brief lesson on real estate etymology:
The term “real estate” came from the French “royale” and the Latin “status”. In other words, “real estate” was originally equivalent to “royal estate.” The “royal” usually refers to the head of state; the state being the ultimate owner of the land over which it reigns.
“Sang real” means “royal blood.”
“El Camino Real” means “The Royal Road.”
Get it?
Now that you already know, you can tell your friends that real estate has nothing to do with reality whatsoever.
In the meantime, bear in mind that the State, and in this context The Philippine Government, is the ultimate owner over all real estate in the Philippines. Try not to pay your Real Property Taxes and you will see what that means.
