Real estate is a term used to describe LAND and the buildings on it, as well as the natural resources within it. It includes the TITLE of the LAND, FREEHOLD, POSSESSION, LAND, LOTS, ASSET, MANOR, and PROPERTY. TITLE refers to the legal right to own the LAND, FREEHOLD is the ownership of LAND without any restrictions, POSSESSION is the right to occupy the LAND, LAND is the physical area of the PROPERTY, LOTS are parcels of LAND, ASSET is something that has economic value, MANOR is a large estate, and PROPERTY is the right to possess, use, and enjoy the LAND.