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Immobility: Even though one can move dirt and land, they can never change the location of a parcel.
Indestructibility: Land is also indestructible, permanent, and the location will never change.
Uniqueness: Although land can be similar and homes may even have the same design or layout, no two pieces of land are ever the same.
Careers are associated with this industry. A person can work in real estate investments to evaluate and pitch opportunities to partners. Asset managers ensure that real estate is performing at the highest levels. Property managers and leasing agents help with onsite and day-to-day operations and attract tenants.
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Real Estate has seven specific characteristics related to its economic impact or physical nature. They are scarcity, improvements, location, investment permanence, uniqueness, immobility, and Indestructibility. Building an improvement on one parcel of land can affect that land’s value and use. It can also affect the property of neighbors and the community. The capital that is used for an improvement of a property can be a large fixed investment. In addition, the return on such investments tends to be long-term and relatively stable, making it a permanent investment.
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The Leased Property is clear of all Lessor Liens attributable to such Rent Assignee and no act or omission by it has occurred which would cause a Lessor Lien attributable to such Rent Assignee. No Event of Loss, Event of Taking, Force Majeure Event or other event or circumstance that, with the giving of notice or lapse of time or both, would constitute an Event of Loss, Event of Taking or Force Majeure Event shall have occurred with respect to the Leased Property.
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