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Simple English definitions for legal terms
property
Read a random definition: editus
A quick definition of property:
Property is something that belongs to a person or group. It can be things you can touch, like a house or a phone, or things you can't touch, like a song or an idea. When you own property, you can use it, sell it, or give it away. There are two types of property: real property, which is land and things that can't be moved, and personal property, which is everything else. If the government owns the property, it's called public property, but if a person or group owns it, it's called private property.
A more thorough explanation:
Property refers to anything that can be owned by a person or entity. It can be tangible or intangible, and the owner has the right to possess, use, transfer, or dispose of it.
According to California Civil Code, property is divided into two categories: real property and personal property. Real property includes land and immovable items like buildings and bridges. Personal property includes everything else that is not real property.
Property can also be categorized as tangible or intangible. Tangible property is something that can be physically held, like a house, an apple, or a cellphone. Intangible property, on the other hand, cannot be physically held, like copyrights, trademarks, or the goodwill of a company.
Intellectual property refers to creations of the mind, like copyrights, trademarks, trade secrets, and patents.
If the property is held by the government or a public department, it is considered public property. Otherwise, it is private property.
- A house is an example of real property because it is immovable and attached to the land.
- An apple is an example of tangible personal property because it can be physically held.
- A copyright is an example of intangible intellectual property because it cannot be physically held.
- A park is an example of public property because it is owned by the government and accessible to the public.
- A car is an example of private property because it is owned by an individual or entity.
These examples illustrate the different types of property and how they can be categorized. They also show how property can be owned by individuals, entities, or the government.