Property classification
Anything that can be owned. A distinction is made between real property (land and incorporeal hereditaments ) and personal property (all other kinds of property), between tangible property (that has a physical existence, e.g., chattels and land) and intangible property (chosen in action, including intellectual property and incorporeal hereditaments). For the law of theft, the property includes all tangible, personal and intangible property, although land can only be stolen under certain conditions [Gooch, Williams, p. 277]. The properties of a system can be divided into intrinsic and mutual. Examples of a system’s intrinsic properties are its composition of parts and their resultant properties like mass and material, properties that emerge in relations between the parts, e.g., density, state of aggregation, surface structure, etc., as well as intrinsic events like shrinkage, expansion, radiation, emission and decomposition. Intrinsic properties are possessed by the object alone, while mutual properties emerge through relations between the system and its environment. The system’s intrinsic properties are fundamental to its mutual properties. Bunge distinguishes between three properties, which emerge in the relation between
—object and environment
— object and reference frame
— object and subject [Ekholm, 2002].
Land and buildings; the UK legal term for these is real property. The property forms an essential part of a country’s capital stock. Ownership of assets by private individuals or organizations. These assets may include property in one sense but may also include securities and intellectual property such as patents. Property incomes are derived from such assets [Hashimzade, Myles, Black, p. 278]. The legal relationship governs the control and use of goods and resources. The configuration of property and property rights shows considerable historical and cross-cultural variation. Generally, property rights have been extensively elaborated only where goods are rivalrous (i.e., where one person's use impedes another's).
Consequently, property rights have been closely tracked with technological and social developments that put pressure on new or existing resources [Calhoun, p. 275].
Ekholm, A. (2002). Principles for classification of properties of construction objects. Retrieved from: https://www.researchgate.net/profile/Anders-Ekholm/publication/240190483_Principles_for_classification_of_properties_of_construction_objects/links/5867
Gooch, G., Williams, M. (2015). A Dictionary of Law Enforcement (2 ed.) Oxford: Oxford University Press.
Calhoun, C. (Ed.) (2002). Dictionary of the Social Sciences. Oxford: Oxford University Press.
Hashimzade, N., Myles, G., Black, J. (2017). A Dictionary of Economics (5 ed.) Oxford: Oxford University Press.