Join our Law Notes WhatsApp Group and stay updated with Legal and Judicial Updates

Property Law

Jump to:navigation, search

Property is of two types of property: real property and Personal Property.

Personal property (also called movable property), is anything other than land that can be the subject of ownership, including stocks, money, notes, Patents, and copyrights, as well as intangible property.

Real property is land and ordinarily anything erected on, growing on, or affixed to it, including buildings and crops. The term is also used to declare any rights that issue from the ownership of land. The terms real estate and real property generally refer to land.

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.

Most of the legal concepts and rules associated with both types of property are derived from English Common Law. Modern law has incorporated many of these concepts and rules into statutes, which define the types and rights of ownership in real and personal property.

In the civil law system, there is a division between movable and immovable property. Movable property roughly corresponds to personal property, while immovable property corresponds to real estate or real property, and the associated rights, and obligations thereon.

Important property law topics related to personal property include possession, lost, mislaid and abandoned property, confusion and accession, bailments, bona fide purchases etc.

Important property law topics related to real property include estate and related topics (such as freehold estate, non-free hold estate, concurrent estates, speciality estates, future interests, incorporeal interests etc), possession, eminent domain and zoning etc.

Property law practitioners will be in demand mostly during economic boom times and will be involved in dealing litigations related to residential or commercial properties. Negotiating property transactions is an essential skill for them.

Related Topics