What does the term 'Real Estate' refer to according to Kentucky auction law?

The term 'Real Estate' according to Kentucky auction law encompasses real property, which includes both the land itself and any improvements made to it. This definition is critical because it clarifies that real estate is not limited to just the physical land but also incorporates buildings, structures, and any other enhancements that add value to the property. Understanding this broad definition is essential for anyone involved in the auctioning of properties, as it affects how real estate is marketed, valued, and sold. Recognizing the full scope of real estate as including improvements helps potential buyers, sellers, and auctioneers appreciate the totality of what is being transacted in an auction setting.