DEFINE PROPERTY. AND DIFFERENT KINDS OF PROPERTY?

DEFINE PROPERTY. AND DIFFERENT KINDS OF PROPERTY? 

 

 

Definition - All legal rights -  the term property includes all legal rights of the owner of that property.  in law he is the owner having the position and enjoyment of  that property.

 

Kinds of property

 

 According to Solomon the well known jurisprudent property can be divided into two main kinds

1. Jura in re propria.

2. Jura in re  aliena.

 

1. Jura  in  re propria: This kind of property can be divided into two kinds

            a. material things : these things can be divided into two kinds

                        i. movable property :  such as  chattels, goods, vehicles, computers etc

                        ii. immovable property :  such as Land, houses, flats, plots etc

b. immaterial things :

All the intellectual property such as patents, trademarks, copyrights, designs etc come under this kind

 

2. Jura in re aliena :   such as leases, servitudes,Etc come under this kind.

 

 Another classification of property:  All the properties stated above can be classified as

 

 A).  Corporeal Property / Tangible Property —  such as Noble and removal properties, which are material objects, can be seen with eyes,  and can be  possessed  and enjoyed with  senses.  These are called as corporal property or tangible property.  corporal means having body.  And able means able to be touch, attend or real

 

B). Incorporeal Property /  in Property —- ,  such as all intellectual properties,  that is patents,, copy, designs Etc.    further-   leases,  easements,  serveritudes,  securities,  etc.  This are called as in corporeal  property or tangible property

 Incorporeal means  having nobody.  in tangible means not able to be touch, not attend, not real

 Another classification of property :  All properties  stated about can be classified as

a.             Private property

b.             public property 

a.             Private property  

i)          capitalistic theory -  the property is a state belongs to the individual, who can earn and acquire properties on their names. any person can acquire the property in the rights or such property depending upon is knowledge, experience, hard work and the time. such property maybe given to there heirs by means of testamentry and interstate succession.  in this theory, if you people grow rich and richar, and at the same time, majority of the people remain. the properties are enjoyed by the rich people only. in almost all democratic countries, the capitalistic theory has been followed.

ii)         Socialistic theory-   entire property in a state belongs to the state only people have no right over the individual properties. this year was proposed by   karl  marx, And was followed in the  erstwhile   soviet  Russia, China,  Vietnam,  Cuba and few other countries.

2.  Public property

 Public property means States property for public purpose. example- Railways bus stand  railway station Aero drams.  in India all forest  lands are owned by the state.

 

Privatization of public properties - in certain occasions the state is empowered to privatise the public properties after making certain amendments to the concerned at approved by the majority.