1. General: Quality or thing owned or possessed.
3. Law: Article, item, or thing owned with the rights of possession, use, and enjoyment, and which the owner can bestow, collateralize, encumber, mortgage, sell, or transfer, and can exclude everyone else from it. Two basic kinds of property are (1) Real (land), involving a degree of geographical fixity, and (2) Personal (anything other than real property) which does not involve geographical fixity. Personal property is subdivided into tangible property (any physical animate or inanimate object) and intangible property (intellectual property).
Use 'property' in a Sentence
The Mitchells' recently bought some desolated property in southern Florida, and are planning to build a beach house on the land.
There was a lot of stolen property from the museum at my friends house and I wondered if he was the museum thief they were talking about on the television.
When shopping for a new home, it is important to check that the property you are interested in is graded properly so that water will flow away from the house.
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Notable Quotable
The Importance of Property in the World
"Property is the fruit of labor; property is desirable; it is a positive good in the world."