Property

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This article is about abstract and legal rights of property. For other uses, see Property
(disambiguation).

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Property law
Part of the common law series
Types

Real property
Personal property

Acquisition

Gift

Adverse possession

Deed

Conquest

Discovery

Accession
Lost, mislaid, and abandoned property

Treasure trove

Bailment

License

Alienation
Estates in land

Allodial title
Fee simple
Fee tail
Life estate
Defeasible estate
Future interest
Concurrent estate

Leasehold estate
Condominiums
Real estate

Conveyancing

Bona fide purchaser

Torrens title
Strata title
Estoppel by deed
Quitclaim deed
Mortgage
Equitable conversion
Action to quiet title
Escheat

Future use control

Restraint on alienation
Rule against perpetuities
Rule in Shelley's Case
Doctrine of worthier title
Nonpossessory interest

Easement
Profit
Usufruct
Covenant
Equitable servitude
Related topics

Fixtures

Waste

Partition
Practicing without a license

Property rights

Mineral rights

Water rights
prior appropriation

riparian
Lateral and subjacent support

Assignment
Nemo dat
Quicquid plantatur
Conflict of property laws
Blackacre

Other common law areas

Contract law
Tort law
Wills, trusts andestates
Criminal law
Evidence

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In the abstract, property is that which belongs to or with something, whether as an attribute or as a
component of said thing. In the context of this article, property is one or more components (rather
than attributes), whether physical or incorporeal, of a person's estate; or so belonging to, as in
being owned by, a person or jointly a group of people or a legal entity like a corporation or even
a society. (Given such meaning, the word property is uncountable, and as such, is not described
with an indefinite article or as plural.) Depending on the nature of the property, an owner of property
has the right to consume, alter, share, redefine, rent, mortgage,pawn, sell, exchange, transfer, give
away or destroy it, or to exclude others from doing these things,[1][2][3] as well as to
perhaps abandon it; whereas regardless of the nature of the property, the owner thereof has the right
to properly use it (as a durable, mean or factor, or whatever), or at the very least exclusively keep it.
Property that jointly belongs to more than one party may be possessed or controlled thereby in very
similar or very distinct ways, whether simply or complexly, whether equally or unequally. However,
there is an expectation that each party's will (rather discretion) with regard to the property be clearly
defined and unconditional,[citation needed] so as to distinguish ownership and easement from rent. The
parties might expect their wills to be unanimous, or alternately every given one of them, when no
opportunity for or possibility of dispute with any other of them exists, may expect his, her, its or their
own will to be sufficient and absolute.
The Restatement (First) of Property defines property as anything, tangible or intangible whereby a
legal relationship between persons and the state enforces a possessory interest or legal title in that
thing. This mediating relationship between individual, property and state is called a property regime.
[4]

In sociology and anthropology, property is often defined as a relationship between two or more
individuals and an object, in which at least one of these individuals holds a bundle of rights over the
object. The distinction between "collective property" and "private property" is regarded as a
confusion since different individuals often hold differing rights over a single object. [5][6]
Important widely recognized types of property include real property (the combination of land and any
improvements to or on the land), personal property (physical possessions belonging to a
person), private property(property owned by legal persons, business entities or individual natural
persons), public property (state owned or publicly owned and available possessions) and intellectual

property (exclusive rights over artisticcreations, inventions, etc.), although the latter is not always as
widely recognized or enforced.[7] An article of property may have physical and incorporeal parts.
A title, or a right of ownership, establishes the relation between the property and other persons,
assuring the owner the right to dispose of the property as the owner sees fit. [citation needed]