Real estate is a legal term (in some jurisdictions, such as the USA, United Kingdom, Canada, Australia and The Bahamas) that encompasses land along with anything permanently affixed to the land, such as buildings, specifically property that is fixed in location. Real estate law is the body of regulations and legal codes which pertain to such matters under a particular jurisdiction and include things such as commercial and residential real property transactions. Real estate is often considered synonymous with real property (sometimes called realty), in contrast with personal property (sometimes called chattel or personalty under chattel law or personal property law).
However, in some situations the term “real estate” refers to the land and fixtures together, as distinguished from “real property,” referring to ownership of land and appurtenances, including anything of a permanent nature such as structures, trees, minerals, and the interest, benefits, and inherent rights thereof. Real property is typically considered to be Immovable property. The terms real estate and real property are used primarily in common law, while civil law jurisdictions refer instead to immovable property.
A chamber of commerce (also referred to in some circles as a board of trade) is a form of business network, e.g., a local organization of businesses whose goal is to further the interests of businesses. Business owners in towns and cities form these local societies to advocate on behalf of the business community. Local businesses are members, and they elect a board of directors or executive council to set policy for the chamber. The board or council then hires a President, CEO or Executive Director, plus staffing appropriate to size, to run the organization.
The first chambers of commerce were founded in 1599 in continental Europe (Marseille, France and Brugge, Belgium). The world’s oldest English-speaking chamber of commerce is that of New York City, which was established in 1769. The largest chamber of commerce in the UK is the North East Chamber of Commerce with over 4,000 members. The oldest Chamber in the English speaking world with continuous records is the Glasgow Chamber of Commerce founded in 1783.
The Urban Land Institute, or ULI, is a non-profit organization with offices in Washington, D.C., Los Angeles, and London. Its stated mission is “to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide.” ULI advocates progressive development, covering topics such as sustainability, smart growth, compact development, place making, and workforce housing.
The ULI was founded in 1936 and currently has over 39,000 members. More than 20% of the members work in government, academia, or public-private partnerships. Most of the rest are involved in the real estate and urban development industries.
The organization makes several awards annually, including the ULI Awards for Excellence, the ULI Gerald D. Hines Student Urban Design Competition, the J. C. Nichols Prize for Visionaries in Urban Development, and the ULI-Kenneth M. Good Graduate Student Fellowship.
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