Anything that can be owned such as money, securities, land, buildings, real estate, watches, jewelry and other tangible items. Intellectual property is also something that can be owned if it is outlined in a legal document.
Property is a legal term that refers to communal belongings or wealth, typically with strong implications of individual ownership. In law, the phrase refers to the web of jural ties that exist between and among individuals in relation to things. The items may be material, such as real estate or tangible products, or intangible, such as stocks and bonds, a patent, or a copyright.« Back to Glossary Index