Property Legal

Possession, control, exclusion, income, and disposition are the most frequent types of legal property rights that an individual may have over an owned piece of property. As a result, property is typically defined as anything to which an individual or organization holds legal title.

Property is basically of two categories : Corporeal Property and Incorporeal Property. Corporeal Property is visible and tangible, whereas incorporeal Property is not. Moreover, corporeal Property is the right of ownership in material things, whereas incorporeal Property is an incorporeal right in rem.

Corporeal Property is further categorized into Movable and Immovable Property. Incorporeal Property is classified into two categories : in re propria and rights in re aliena or encumbrances.