Property Law Law and Legal Definition.
Property is anything that is owned by a person or entity.
Property is divided into two types: “real property,” which is any interest in land, real estate, growing plants or the improvements on it, and “personal property” (sometimes called “personalty”), which is everything else.
What does property mean?
goods, land, etc., considered as possessions: The corporation is a means for the common ownership of property. a piece of land or real estate: property on Main Street. ownership; right of possession, enjoyment, or disposal of anything, especially of something tangible: to have property in land.
What is the purpose of property law?
Property law is the area of law that governs what people own. Property law applies to both real property and personal property. Ownership and use of property is an area of law that impacts everyone in society. Property law is also an important part of estate law, family law and municipal law.
What are the properties of law?
Property law is the area of law that governs the various forms of ownership and tenancy in real property (land as distinct from personal or movable possessions) and in personal property, within the common law legal system. The concept, idea or philosophy of property underlies all property law.