What distinguishes real estate from property?

Real estate is distinguished from property primarily by its composition, which includes both raw land and any permanent improvements made to that land. This encompasses not just the physical land itself but also buildings, structures, and any other fixtures that are permanently attached to the land. The concept of real estate emphasizes the intrinsic value of these elements, as they can provide utility, investment value, and various rights associated with ownership.

On the other hand, property is a broader term that can refer to any type of asset, including both real and personal property. Real property specifically refers to land and anything permanently affixed to it, while personal property includes movable items that are not permanently attached. Therefore, the focus on raw land and permanent improvements captures the essence of what real estate entails, making it the correct distinction in the context of this question.