{"id":7427,"date":"2017-11-08T22:48:06","date_gmt":"2017-11-08T22:48:06","guid":{"rendered":"https:\/\/reunitethestates.org\/?page_id=7427"},"modified":"2023-04-21T21:42:48","modified_gmt":"2023-04-21T21:42:48","slug":"property","status":"publish","type":"page","link":"https:\/\/reunitethestates.org\/?page_id=7427","title":{"rendered":"Property and Ownership:"},"content":{"rendered":"

\u00a0 \u00a0 \u00a0This page is continued from\u00a0Law of Property<\/a>, and contains<\/span>\u00a0types of property\u00a0(i.e.\u00a0<\/em><\/span><\/strong>real property<\/a>,\u00a0personal property<\/a>,\u00a0intellectual property<\/a>, and sub-terms),\u00a0<\/em>and\u00a0ownership<\/a><\/span>-related terms, such as\u00a0interest<\/a>,\u00a0estate<\/a>, and <\/span><\/span>tenancy<\/a>,\u00a0<\/span>occupancy<\/a>, <\/span>possession<\/a>, and related sub-terms for each.<\/span><\/strong><\/p>\n

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property<\/span>:<\/span>
\n<\/strong><\/span>(14c)<\/span><\/p>\n

1. Collectively, the rights in a valued resource such as land, chattel: or an intangible.\u00a0 *\u00a0 It is common to describe property as a \u201cbundle of rights.\u201d\u00a0 These rights include the right to possess and use, the right to exclude, and the right to transfer.\u00a0\u2014 <\/strong>aka <\/span>bundle of rights<\/span><\/em><\/strong>.<\/span><\/p>\n

2. Any external thing over which the rights of possession, use, and enjoyment are exercised <\/strong><the airport is city property>.\u00a0<\/strong>[1]<\/span><\/p>\n

1. In a popular sense, a chattel or tract of land. 42 Am J1st Prop \u00a7 3<\/span>.<\/span><\/strong><\/p>\n

Inclusive o both real estate and personalty. Anno: 115 ALR 553; 57 Am J1st Wills \u00a7 1338<\/span>.<\/span><\/strong><\/p>\n

Inclusive of both tangibles and intangibles; that which is corporeal and that which is incorporeal. Bouse v Hutzler<\/em>, 180 Md 682, 26 A2d 767, 141 ALR 843<\/span>.<\/span><\/strong><\/p>\n

Strictly, that dominion or indefinite right of user, control, and disposition which one may lawfully exercise over particular things or objects. 42 Am J1st Prop \u00a7 2<\/span>.<\/span><\/strong><\/p>\n

The right and interest which a man has in lands and chattels to the exclusion of others. Ralston Steel Car Co. v Ralston<\/em>, 112 Ohio St 306, 147 NE 513, 39 ALR 334<\/span>. <\/span><\/strong><\/p>\n

The right of a person to possess, use, enjoy, and dispose of a thing. Willcox v Penn Mut. Life Ins. Co<\/em>. 357 Pa 581, 55 A2d 521, 174 ALR 220<\/span>. <\/span><\/strong><\/p>\n

The free use, enjoyment, and disposal of a person\u2019s acquisitions without control or diminution save by the law of the land. Department of Financial Institutions v General Finance Corp<\/em>. 227 Ind 373, 86 NE2d 444, 10 ALR2d 436<\/span>. <\/span><\/strong><\/p>\n

Not the material object itself, but the right and interest or domination rightfully obtained over such object, with the unrestricted right to its use, enjoyment, and disposition. Howlett v Doglio<\/em>, 42 111 311, 82 NE2d 708, 6 ALR2d 790<\/span>; Akron v Chapman<\/em>, 160 Ohio St 382, 116 NE2d 697, 42 ALR2d 1140<\/span>. <\/span><\/span><\/strong><\/p>\n

A species of title, inchoate or complete, legal or equitable, embracing rights which lie in contract, executory or executed. Smith v United States (US)<\/em> 10 Pet 326, 9 L Ed 442<\/span>.<\/span><\/span><\/strong><\/p>\n

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As the term is used in the guarantee of the Fourteenth Amendment-the right to acquire, possess, and enjoy particular things and objects in any way consistent with the equal rights of others and the just exactions and demands of the state. Wright v Hart<\/em>, 182 NY 330, 75 NE 404<\/span>; Ives v South Buffalo R. Co<\/em>. 201 NY 271, 94 NE 431<\/span>; all valuable interests which a man may possess outside of himself-outside of his life and liberty being more than that which a person owns. 16 Am J2d Const L \u00a7 364<\/span>. <\/span><\/strong><\/p>\n

As the term appears in constitutional provisions respecting taking of property: \u2014 a word of most general import, extending to every species of right and interest, capable of being enjoyed as such, upon which it is practicable to place a money value. 26 Am J2d Em D \u00a7 173<\/span>.<\/span><\/strong><\/p>\n

As used in a statutory provision authorizing a corporation to receive \u201cproperty\u201d in payment for its stock, the term is not used in its broad sense which includes anything susceptible of ownership, but is limited to that which may readily be applied to the debts of the corporation. 18 Am J2d Corp \u00a7 258<\/span>.<\/strong> [2]<\/span><\/p>\n

1. The right of a person to possess, use, enjoy, and dispose of a thing without restriction, i.e., not the material object itself, but\u00a0 person’s rights with respect to the object.<\/span><\/strong><\/p>\n

2. Ownership of title, either legal or equitable.<\/span><\/strong>
\n\u00a0\u00a0\u00a0\u00a0 See equitable title<\/em>; legal title<\/em>.<\/span><\/p>\n

3. In the more common sense, real property and personal property; tangible property and intangible property; corporeal property and incorporeal property.<\/span><\/strong><\/p>\n

4. As employed in the Fifth Amendment and the Fourteenth Amendment, the right to acquire, possess, and dispose of things and objects.<\/span><\/strong><\/p>\n

5. Anything that can be owned.<\/strong> [3]<\/span><\/p>\n<\/div>\n

\u00a0 \u00a0 \u00a0Excerpt from William L. Burdick’s<\/span>\u00a0Handbook of the Law of Real Property<\/em><\/a> 2-3 (1914):<\/span><\/strong><\/span><\/p>\n

\u00a0 \u00a0 \u00a0\u201c<\/span>\u2018Property (from the Lat. proprius, meaning belonging to\u00a0<\/span><\/strong><\/span>one; one\u2019s own) signifies, in a strict sense, one\u2019s exclusive\u00a0<\/strong>right of ownership of a thing.\u2019\u00a0 In their strict meanings,\u00a0<\/strong>therefore, the right of ownership and property are synony<\/strong>mous, each term signifying a bundle or collection of rights.\u00a0\u00a0<\/strong><\/span>In a secondary meaning, however, the term \u2018property\u2019 is applied to every kind of valuable right and interest that can be made the subject of ownership, and in this sense, since it is the subject of ownership, land is called property. The term, therefore, includes both real and personal property, and it is often thus expressly defined in statutes. The word \u2018property,\u2019 however, may have different meanings, under different circumstances, according to the manner in which it is used.<\/span>\u201d<\/span><\/strong> [4]<\/span><\/p>\n

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\u00a0 \u00a0 \u00a0Excerpt from John Salmond’s<\/span> Jurisprudence<\/a>\u00a0<\/em>(1947):<\/span><\/strong><\/span><\/p>\n

\u00a0 \u00a0 \u00a0\u201c<\/span>In its widest sense, property includes all a person\u2019s legal rights, of whatever description. A man\u2019s property is all that is his in law. This usage, however, is obsolete at the present day, though it is common enough in the older books. . .. In a second and narrower sense, property includes not all a person\u2019s rights, but only his proprietary as opposed to his personal rights. The former constitute his estate or property, while the latter constitute his status or personal condition. In this sense a man\u2019s land, chattels, shares, and the debts due to him are his property; but not his life or liberty or reputation. . . . In a third application, which is that adopted [here], the term includes not even all proprietary rights, but only those which are both proprietary and in rem. The law of property is the law of proprietary rights in rem, the law of proprietary rights in personam<\/em> being distinguished from it as the law of obligations.\u00a0 According to this usage a freehold or leasehold estate in land, or a patent or copyright, is property; but a debt or the benefit of a contract is not….\u00a0 Finally in the narrowest use of the term, it includes nothing more than a corporeal property\u00a0\u2014 that is to say, the right of ownership in a\u00a0 material object, or that object itself.<\/span>”\u00a0<\/span><\/strong>[5]<\/span><\/span><\/p>\n

Types of Property:<\/span><\/strong><\/p>\n

real property<\/span><\/a> – land and anything growing on, attached to, or erected on it, excluding anything that may be severed without injury to the land.\u00a0<\/span><\/strong>\u2014<\/span> aka<\/span> realty<\/em><\/span><\/strong><\/span>;<\/span> real estate<\/em><\/span>.<\/span><\/strong><\/p>\n