Property law
Part of the common law series
Acquisition of property
Gift  · Adverse possession  · Deed
Lost, mislaid, and abandoned property
Bailment  · Licence
Estates in land
Allodial title  · Fee simple
Life estate  · Fee tail  · Future interest
Concurrent estate  · Leasehold estate
Condominiums
Conveyancing of interests in land
Bona fide purchaser  · Torrens title
Estoppel by deed  · Quitclaim deed
Mortgage  · Equitable conversion
Action to quiet title
Limiting control over future use
Restraint on alienation
Rule against perpetuities
Rule in Shelley's Case
Doctrine of worthier title
Nonpossessory interest in land
Easement  · Profit
Covenant running with the land
Equitable servitude
Related topics
Fixtures  · Waste  · Partition
Riparian water rights
Lateral and subjacent support
Assignment  · Nemo dat
Other areas of the common law
Contract law  · Tort law
Wills and trusts
Criminal Law  · Evidence

Personal property is a type of property. In the common law systems personal property may also be called chattels. It is distinguished from real property, or real estate. In the civil law systems personal property is often called movable property or movables - any property that can be moved from one location to another. This term is in distinction with immovable property or immovables, such as land and buildings. Image File history File links Scale_of_justice. ... Property law is the area of law that governs the various forms of ownership in real property (land as distinct from personal or movable possessions) and in personal property, within the common law legal system. ... This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ... A gift, in the law of property, has a very specific meaning. ... In real estate common law, adverse possession is a means of acquiring title to anothers real property without compensation, by, as the name suggests, holding the property in a manner that conflicts with the true owners rights. ... A deed is a legal instrument used to grant a right. ... In the common law of property, personal belongings that have left the possession of their rightful owners without having directly entered the possession of another person are deemed to be lost, mislaid, or abandoned, depending on the circumstances under which they were found by the next party to come into... Bailment describes a legal relationship where physical possession of personal property (chattels) is transferred from one person (the bailor) to another person (the bailee) who subsequently holds possession of the property. ... A license or licence is a document or agreement giving permission to do something. ... Estate is a term used in the common law. ... Allodial title is a concept in some systems of property law. ... Fee simple, also known as fee simple absolute or allodial, is a term of art in common law. ... A life estate, at common law is an estate in real property that ends at death. ... Fee tail is an obsolescent term of art in common law. ... In property law and real estate, a future interest - is an interest that accompanies a defeasible estate. ... A concurrent estate or co-tenancy is a concept in property law, particularly derived from the common law of real property, which describes the various ways in which property can be owned by more than one person at a given time. ... A leasehold estate is an ownership interest in land in which a lessee or a tenant holds real property by some form of title from a lessor or landlord. ... A condominium is a form of housing tenure. ... Conveyancing is the act of transferring the ownership of a property from one person to another. ... A bona fide purchaser (BFP)—or bona fide purchaser for value without notice (BFPFVWN)—in the law of real property, is an innocent party who purchases property for value, without notice of any other partys claim to the title of that property. ... Torrens title is a system of land title where a register of land holdings maintained by the state guarantees indefeasible title to those included in the register. ... Estoppel by deed is a doctrine in the law of real property that arises where a party conveys title to land that he does not own to a bona fide purchaser, and then acquires title to that land. ... A quitclaim deed is a term used in property law to describe a document by which a person disclaims any interest the grantor might have in a piece of real property, and passes that claim to another person (the grantee). ... A mortgage is a method of using property (real or personal) as security for the payment of a debt. ... Equitable conversion is a doctrine of the law of real property under which a purchaser of real property becomes the equitable owner of title to the property at the time that they sign a contract binding them to purchase the land at a later date. ... This page is a candidate to be copied to Wiktionary. ... In property law and real estate, a future interest - is an interest that accompanies a defeasible estate. ... A restraint on alienation, in the law of real property, is a clause used in the conveyance of real property that seeks to prohibit the recipient from selling or otherwise transferring his interest in the property. ... The rule against perpetuities is a rule in property law which prohibits a contingent grant or will from vesting outside a certain period of time. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... In the common law of England, the doctrine of worthier title was a legal doctrine that preferred taking title to real estate by descent over taking title by devise or by purchase. ... A nonpossessory interest in land is a term of the law of property to describe any of a category of rights held by one person to use land that is in the possession of another. ... NB: This article is manifestly incorrect outside of US law. ... A profit, in the law of real estate, is a nonpossessory interest in land similar to the better-known easement, which gives the holder the right to take natural resources such as petroleum, minerals, timber, and wild game from the land of another. ... A covenant running with the land, in the law of real property, is a nonpossessory interest in land in the form of an agreement between adjoining landowners to do or not do something with relation to the land that they respectively occupy - to maintain a fence, for example, or not... An equitable servitude is a term used in the law of real property to describe a nonpossessory interest in land that operates much like a covenant running with the land, requiring the landowner to maintain certain practices with respect to the land (e. ... In the law of real property, fixtures are anything that would otherwise be a chattel that have, by reason of incorporation or affixation, become permanently attached to the real property. ... Waste is a term used in the law of real property to describe a cause of action that can be brought in court to address a change in condition of real property brought about by a current tenant that damages or destroys the value of that property. ... A partition is a term used in the law of real property to describe the court-ordered division of a concurrent estate into separate portions representing the proportionate interests of the tenants. ... Riparian water rights is a system of allocating water among the property owners who abut its source. ... Lateral and subjacent support, in the law of property, describes the right a landowner has to have that land physically supported in its natural state by both adjoining land and underground structures. ... An assignment is a term used with similar meanings in the law of contracts and in the law of real estate. ... Nemo dat quod non habet, literally meaning no one [can] give what they dont have is a legal rule, sometimes called the nemo dat rule that states that the purchase of a possession from someone who has no ownership right to it also denies the purchaser any ownership title. ... A contract is any promise or set of promises made by one party to another for the breach of which the law provides a remedy. ... In the common law, a tort is a civil wrong for which the law provides a remedy. ... In the common law, a will or testament is a document by which a person (the testator) regulates the rights of others over his property or family after death. ... The law of trusts and estates is generally considered the body of law which governs the management of personal affairs and the disposition of property of an individual in anticipation and the event of such persons incapacity or death, also known as the law of successions in civil law. ... Criminal law (also known as penal law) is the body of statutory and common law that deals with crime and the legal punishment of criminal offenses. ... The law of evidence governs the use of testimony (e. ... // Use of the term In common usage, property means ones own thing and refers to the relationship between individuals and the objects which they see as being their own to dispense with as they see fit. ... This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ... The factual accuracy of this article is disputed. ... Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. ... Civil law is a codified system of law that sets out a comprehensive system of rules that are applied and interpreted by judges. ... Immovable Property is: Immovable object, real estate, item of property. ...

Personal property may be classified in a variety of ways, such as money, negotiable instruments, securities, goods, and intangible assets including choses in action. An example of Money. ... A negotiable instrument is a specialized type of contract which obligates a party to pay a certain sum of money on specified terms. ... Security is a type of transferable interest representing financial value. ... Good (accounting) - Wikipedia /**/ @import /skins-1. ... Intangible assets are defined as assets that are not physical in nature. ... Chose (French for thing), a term used in English law inghjgjgjgg202. ...

The distinction between these types of property is significant for a variety of reasons. Usually one's rights on movables are more attenuated than one's rights on immovables (or real property). The statutes of limitations or prescriptive periods are usually shorter when dealing with personal or movable property. Real property rights are usually enforceable for a much longer period of time and in most jurisdictions real estate and immovables are registered in government-sanctioned land registers. In some jurisdictions, rights (such as a lien or other security interest) can be registered against personal or movable property. A statute of limitations is a statute in a common law legal system setting forth the maximum period of time, after certain events, that legal proceedings based on those events may begin. ... In law, lien is the broadest term for any sort of charge or encumbrance against an item of property that secures the payment of a debt or performance of some other obligation. ...

In the common law it is possible to place a mortgage upon real property. Such mortgage requires payment or the owner of the mortgage can seek foreclosure. Personal property can often be secured with similar kind of device, variously called a chattel mortgage, trust receipt, or security interest. In the United States, Article 9 of the Uniform Commercial Code governs the creation and enforcement of security interests in most (but not all) types of personal property. A mortgage is a method of using property (real or personal) as security for the payment of a debt. ... Foreclosure is the legal proceeding in which a bank or other secured creditor sells or repossesses a piece of real property (immovable property) due to the owners failure to comply on its promissory note. ... The Uniform Commercial Code (UCC) is one of the uniform acts that has been promulgated in attempts to harmonize the law of sales and other commercial transactions in the fifty state in the United States of America. ...

There is no similar institution to the mortgage in the civil law, however a hypothec is a device to secure real rights against property. These real rights follow the property along with the ownership. In the common law a lien also remains on the property and it is not extinguished by alienation of the property; liens may be real or equitable. Hypothec (Lat. ... The Court of Chancery, London, early 19th century This article is about concept of equity in Anglo-American jurisprudence. ...

Many jurisdictions levy a personal property tax, an annual tax on the privilege of owning or possessing personal property within the boundaries of the jurisdiction. Automobile and boat registration fees are a subset of this tax. Most household goods are exempt as long as they are kept or used within the household; the tax usually becomes a problem when the taxing authority discovers that expensive personal property like art is being regularly stored outside of the household. // Property tax is an ad valorem tax that an owner of real estate or other property pays on the value of the thing taxed. ...

Other meanings

The term personal property is also used with meanings that have no connection to the above. Specifically, Marxism and Anarchism draw a distinction between personal property and private property: Personal property refers to things that an individual has an exclusive right to use but only while they are in use or used regularly. This differs from private property which refers to things that are owned by an individual regardless of whether he is using them. In the case of private property, since an individual owns what he does not use, he has a right to prevent others from using what he does not use or has no intention of using. This allows a landowner, for example, to charge rent for the use of his land. With personal property, an individual does not hold any rights over things he does not use. If he decides to stop using land, he may not prevent any other individual from using it or charge them to use it. This distinction is important in discussions about communism and anarchism, because these systems abolish private property but not personal property. Things such as factories and land are public property and are used in common by groups of people, while things such as cars and toothbrushes remain personal possessions and are used by one person at a time. The rights associated with personal possessions in communism and anarchism may not be the same as in capitalism or other systems, however. To be more exact, personal property in communism and anarchism implies the right to exclusive use (no one may use your toothbrush without your permission unless you no longer intend to use it), but it does not imply the right to buy and sell. One possible model of distribution of personal possessions in communism is as follows: A publicly owned factory produces toothbrushes. These toothbrushes are then placed in some sort of "common stockpile", where people who need a toothbrush can go and pick one. As soon as a person picks a toothbrush from the "common stockpile", that brush becomes his personal property until it is worn out and he throws it away. Marxism refers to the philosophy and social theory based on Karl Marxs work on one hand, and to the political practice based on Marxist theory on the other hand (namely, parts of the First International during Marxs time, communist parties and later states). ... This article or section may contain inappropriate or misinterpreted citations. ... This page deals with property as ownership rights. ... This article is about communism as a form of society and as a political movement. ... Libertarian socialism is any one of a group of political philosophies dedicated to the abolition of property by restoring direct control of production and resources to the working class. ... Capitalism is an economic system in which the means of production are mostly privately owned, and capital is invested in the production, distribution and other trade of goods and services, for profit in a competitive free market. ...