Property Definition And Its Types

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Property Definition And Its Types :-

Property is essentially of two kinds Corporeal Property and Incorporeal Property. Corporeal Property can be further divided into Movable and Immovable Property and real and personal property . Incorporeal property is of two kinds-in re propria and rights in re aliena or encumbrances . 

What is property and its types ?

The corporeal property encompasses the right to ownership of material things. All tangible and visible things which can be touched and felt by senses will fall under this property category. It is further divided into two categories, i.e., Movable and immovable property . personal and real property.

What is defined as property ?

Property is any item that a person or a business has legal title over. Property can be tangible items, such as houses, cars, or appliances, or it can refer to intangible items that carry the promise of future worth, such as stock and bond certificates.

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