Introduction to Property

Question 1

Two Categories of Property

Answer 1

1. Real Property

2. Personal Property

Question 2

Common Law Definitions of Categories

Answer 2

1. Real Estate: land and things affixed to the land

2. Personal: all other property

Question 3

Civil Law Definitions of Categories

Answer 3

1. Land: immovable

2. Personal: movable

Question 4

Law of Property

Answer 4

Governs the relation between persons with respect to the subject of property.
1. We use the term property to refer to legal relationships, not to the objects

Question 5

Classifying Property: Tangible

Answer 5

Items of property that have a tangible existence.

Question 6

Classifying Property: Intangible

Answer 6

1. Referenced by title documents, such as stock ownership, etc.
2. There is a distinction between a title document and the property itself.