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property definition - legal

n

All of the rights of ownership, including the rights of possession, to enjoy, to use, and to dispose of a chattel or a piece of land.
common property
Property held jointly by two or or more persons, or property that belongs to all citizens. See also community property.
incorporeal property
Property without tangible value, but that represents something of value, such as a stock certificate, which is just a piece of paper, but which indicates ownership of stock. Something of value.
intangible property
Property that has no physical existence, such as stock options or goodwill.
intellectual property
Property having to do with patents or trademarks.
personal property
See personal property.
public property
Community or state owned property that is not restricted to use by an individual or a select few, and over which the state or community has dominion and control.
real property
Land, real estate. 
tangible property
Property with physical form and extent.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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