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Line 7:
Line 7: − + − − Private property is absolute ownership of land, houses, chattels, tools, means of production and transportation by an individual. − −
→Definition
“Alienability,” or the right to sell (or refuse to sell) is also a core property right. To the typical person, the right to use and enjoy a thing is the most valuable aspect of property rights, but the scope of this aspect of property rights varies greatly from legal system to legal system, and even over time, with changes within a given system.
“Alienability,” or the right to sell (or refuse to sell) is also a core property right. To the typical person, the right to use and enjoy a thing is the most valuable aspect of property rights, but the scope of this aspect of property rights varies greatly from legal system to legal system, and even over time, with changes within a given system.
Property has traditionally been divided into two main types, real property (ownership of land) and personal property, or personalty (everything else).
Property has traditionally been divided into two main types, real property and personal property, or personalty. Real property refers to ownership of land, while personalty constitutes all other types of property. In addition, the law recognizes certain kinds of analogous rights to immaterial assets that are sometimes considered property rights, as well. For example, patents, trademarks, trade secrets, and copyrights are often referred to as “intellectual property,” because they provide the right to exclude others and the right to sell (but, except for trademark, do not necessarily convey an affirmative right for the owner to use).
Real property refers to qualified ownership of real estate, while personal property refers to qualified ownership of all other types of material property. In addition, the law recognizes certain kinds of analogous rights to immaterial assets that are sometimes considered property rights, as well. For example, patents, trademarks, trade secrets, and copyrights are often referred to as “intellectual property,” because they provide the right to exclude others and the right to sell (but, except for trademark, do not necessarily convey an affirmative right for the owner to use).
== Ownership ==
== Ownership ==