The true definition of "property" covers a wide range of concepts. Not only
does this encompass monetary wealth and other tangible things, but also
intangibles like intellectual property rights, stocks, and so on. These assets,
both tangible and intangible, can be anything that generates wealth or income.
Possession, control, exclusion, income, and disposition are the most frequent
types of legal property rights that an individual may have over an owned piece
As a result, property is typically defined as anything to which an individual or
organization holds legal title. The only way to enforce ownership rights is to
hold legal title to the property in question. The definition, usage, and
classification of properties are discussed in this article.
Types Of Properly Under Law:
To Begin With, Firstly, Remember These Major Types Of Property:
- Movable property and Immovable property.
- Tangible property and Intangible property.
- Private property and Public property.
- Personal property and Real property.
- Corporeal property Incorporeal property.
- Movable Property:
Movable property can be moved from one place to another without causing any
damage. These are the legislations which define movable property. Section 2(9)
of the Registration Act, 1908:
"Movable property" includes standing timber,
growing crops and grass, fruit upon and juice in trees, and property of every
other description, except immovable property."
Section 22 of India Penal
"Movable property" are intended to include corporeal property of
every description, except land and things attached to the earth or permanently
fastened to anything which is attached to the earth." Section 3(36) of the
General Clause Act,1897- "Movable property" shall mean the property of every
description, except immovable property."
- Immovable Property:
Immovable property is one that cannot be moved from one place to another place.
This is the property which is attached to the earth or ground. Section 2(6) of
the Registration act, 1908 states that an "Immovable property means and includes
land, buildings, hereditary allowances, rights to ways, lights, ferries,
fisheries, or any other benefit to arise out of the land, and things attached to
the earth or permanently fastened to anything which is attached to the earth,
but not standing timber, growing crops nor grass."
This property of a value of
more than Rs. 100/- is needed to be registered for which a registration fee and
stamp duty are to be paid. This property can be considered an ancestral joint
- Tangible Property
Tangible property has a physical existence and can be touched. This type of
property can be moved from one place to another, without causing any damage.
From this, we can say that this property is movable in nature. Examples: cars or
other vehicles, books, timber, electronic devices, furniture, etc.
- Intangible Property:
Intangible property does not have any physical existence. These are properties
with current or potential value, but no intrinsic value of their own & cannot be
touched or felt but holds value. Examples include intellectual property like
copyright, patent or GI, stock and bond certificates. Franchises, securities,
software & many more.
- Public Property:
Public property, as we can easily predict, means the property owned by the State
for the Indian citizens. It belongs to the public with no claim from an
individual. The government or any assigned community generally manages these
properties for public utility. A few common examples can be Government
hospitals, parks, public toilets, etc.
- Private Property:
As the name suggests, private property permits a non-government body to own the
property. It is property owned by a juristic person for their personal use or
benefit which can be of any nature tangible or intangible, movable or immovable.
Common Examples include apartments, securities, trademarks, private wells, etc.
- Personal Property:
The personal property acts like an umbrella which includes all types of
property. Individuals own this kind of property, be it either tangible or
- Real Property:
Real property, also called real estate property, includes land and any
development made on such land. This kind of property is covered in immovable
property. But why is this covered in immovable property? See, for example,
roads, mines, buildings, factories, crops, etc, which are created by
development, are all fixed with the land. This is immovable property, + any
development on it, a further deliberation of immovable property is a real
property. Other examples: Building (attached to the earth) using materials like
cement, steel, mines, crops, etc.
- Corporeal Property:
Don't get confused here. Corporeal property is any tangible property that can be
touched and felt. If this is similar to tangible property, then why did a
separate type of corporeal property come into existence? This is a tangible
property but it is mainly the right of ownership in material things of such
property. All kinds of tangible property can be considered corporeal property.
it can be divided into two categories: movable and immovable property and
personal and real property as it is ownership rights.
- Incorporeal Property:
Incorporeal property means all kinds of intangible property. Again, then why is
such a category brought up? This type of property is also called intellectual
property. It is an incorporeal right, meaning having legal rights over things
that cannot be touched or felt.
All of the aforesaid categories represent different kinds of property discussed
in legal sources. Knowing the different kinds of property and how to go about
acquiring them in India is crucial. Land conflicts, trademark infringement
cases, and even family disputes involving the division of property are all too
common. Talking to a property lawyer will help you understand the procedure and
avoid any potential disagreements.
Written By: Adv.Shashwata Sahu