Definition of Real Estate and Property:

• Real estate encompasses land, buildings, and improvements, along with natural resources such as minerals, soil, and timber.
• Property includes tangible assets like land and intangible assets like copyrights, along with movable items like furniture and machinery involved in transactions.

Legal Considerations:

• Land ownership does not extend to certain natural resources (e.g., gold, silver, tin) as these are governed by national laws.
• Aviation and municipal regulations impose restrictions on height limits for properties.

Types of Land Tenure:

• Freehold: Ownership is perpetual.
• Leasehold: Ownership is limited to a specified lease period.

Categories of Land Use in Malaysia:

• Building: Residential, commercial, and institutional.
• Industrial.
• Agriculture.