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In the abstract, property is that which belongs to or with something, whether as an attribute or as a component of said thing. In the context of this article, property is one or more components (rather than attributes), whether physical or incorporeal, of a person's estate; or so belonging to, as in being owned by, a person or jointly a group of people or a legal entity like a corporation or even a society. (Given such meaning, the word property is uncountable, and as such, is not described with an indefinite article or as plural.) Depending on the nature of the property, an owner of property has the right to consume, alter, share, redefine, rent, mortgage, pawn, sell, exchange, transfer, give away or destroy it, or to exclude others from doing these things,<ref name="businessdict">{{#invoke:citation/CS1|citation |CitationClass=citation }}</ref><ref name="americanheritagedict">{{#invoke:citation/CS1|citation |CitationClass=citation }}</ref><ref name="wordnet">{{#invoke:citation/CS1|citation |CitationClass=citation }}</ref> as well as to perhaps abandon it; whereas regardless of the nature of the property, the owner thereof has the right to properly use it (as a durable, mean or factor, or whatever), or at the very least exclusively keep it.

Property that jointly belongs to more than one party may be possessed or controlled thereby in very similar or very distinct ways, whether simply or complexly, whether equally or unequally. However, there is an expectation that each party's will (rather discretion) with regard to the property be clearly defined and unconditional,{{ safesubst:#invoke:Unsubst||date=__DATE__ |$B= {{#invoke:Category handler|main}}{{#invoke:Category handler|main}}[citation needed] }} so as to distinguish ownership and easement from rent. The parties might expect their wills to be unanimous, or alternately every given one of them, when no opportunity for or possibility of dispute with any other of them exists, may expect his, her, its or their own will to be sufficient and absolute.

The Restatement (First) of Property defines property as anything, tangible or intangible whereby a legal relationship between persons and the state enforces a possessory interest or legal title in that thing. This mediating relationship between individual, property and state is called a property regime.<ref>Pellissery, Sony and Dey Biswas, Sattwick (2012) Emerging Property Regimes In India: What It Holds For the Future of Socio-Economic Rights? IRMA Working Paper 234</ref>

In sociology and anthropology, property is often defined as a relationship between two or more individuals and an object, in which at least one of these individuals holds a bundle of rights over the object. The distinction between "collective property" and "private property" is regarded as a confusion since different individuals often hold differing rights over a single object.<ref>Graeber, New York: Palgrave (2001) Toward an Anthropological Theory of Value: The False Coin of Our Own Dreams. ISBN 978-0-312-24044-8 "... one might argue that property is a social relation as well, reified in exactly the same way: when one buys a car one is not really purchasing the right to use it so much as the right to prevent others from using it-or, to be even more precise, one is purchasing their recognition that one has the right to do so. But since it is so diffuse a social relation- a contract, in effect, between the owner and everyone else in the entire world-it is easy to think of it as a thing..."(pg.9)</ref><ref>Max Planck Institute for Social Anthropology, Property in Anthropology, http://www.eth.mpg.de/cms/en/research/d2/completed/property/moreinfo/</ref>

Important widely recognized types of property include real property (the combination of land and any improvements to or on the land), personal property (physical possessions belonging to a person), private property (property owned by legal persons, business entities or individual natural persons), public property (state owned or publicly owned and available possessions) and intellectual property (exclusive rights over artistic creations, inventions, etc.), although the latter is not always as widely recognized or enforced.<ref>Anti-copyright advocates and other critics of intellectual property dispute the concept of intellectual property.[1].</ref> An article of property may have physical and incorporeal parts. A title, or a right of ownership, establishes the relation between the property and other persons, assuring the owner the right to dispose of the property as the owner sees fit.{{ safesubst:#invoke:Unsubst||date=__DATE__ |$B= {{#invoke:Category handler|main}}{{#invoke:Category handler|main}}[citation needed] }}


Property sections
Intro  Overview   Related concepts   Issues in property theory   Theories of property    Property in philosophy   See also  References  Bibliography  External links and references  

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