Real estate is the term used for land and anything that is permanently affixed to it such as buildings, fences, and things attached to buildings i.e.: plumbing, heating, and light fixtures. Property that is not permanently affixed is regarded as Personal Property i.e.: furniture, cars, etc.
A deed is a document which is used to transfer title and/or interests to land and attached structures (real property). Typically when transferring property, either a Quit Claim Deed or Warranty Deed is used. A Quit Claim Deed does not offer warranty as to the status of the property title and thus, is generally used to transfer property between family members, as gifts, or placing personal property into a business entity. A Warranty Deed guarantees that the seller holds clear title to a piece of real estate and has the right to sell it.
A Land Contract is a contract between a buyer and seller of real property where the seller agrees to provide financing for the purchase of real property for an agreed upon purchase price without the involvement of a financial institution. The buyer then repays the loan in installments. If the buyer defaults on payments, the land contract can be forfeited or foreclosed.
The Purchase Agreement is a written agreement between parties that sets forth the terms of a sale and dictates how the transaction is to unfold.
A lease is a contractual agreement between a landlord and a tenant which gives the tenant the right to occupy specific land and buildings for a specified length of time. The tenant is then required by the lease to pay rent until the lease expires. At the expiration of the lease, the tenant must either renew the lease for another specified length of time, or be required to move.