Conceptual understanding of the term ‘Property’

Submitted by: Submitted to:

Prachi Ms. Alankrita Mathur
BBA-LLB(3B)
05951103520

Delhi Metropolitan Education

Affiliated to GGSIP University, New Delhi & Approved by
Bar Council of India

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Introduction
Property is frequently used in a variety of contexts. You can classify whatever you can
acquire as property if you take a look around. Property is any object, tangible or immaterial,
that has worth to others. The value placed on anything is its fundamental quality. It is a source
of wealth in some form or another. The value, though, may be either monetary or subjective.
So, in general, property consists of real estate, stocks, built-up areas, and obligations to third
parties. The phrase obviously has legal ramifications, though. It is the right to use things
whatever one pleases and to enjoy them completely.
The definition of property is far wider in its fundamental connotation. It includes everything
deemed to be a source or component of income or wealth, including not simply money and
other tangible objects of worth but also any intangible right. a man's exclusive title and
interest in his land and possessions. If he does not use the commodities in any manner that is
against the law, he has the right to utilise some things in the most comprehensive way
feasible.
My objective is to provide a definition of the word "property" that encapsulates its
fundamental significance in both legal and non-legal situations.1 Before splitting apart two of
the term's frequent usage, I first focus on the definitional difficulty. I'll ultimately encounter
the concept of property in my attempt to comprehend these applications. The relationships
between the notion I identify and other proximal ideas (such ownership, property rights, and
contract rights) are then quickly examined. The prerequisites for applying the concept of
property are then discussed, along with how it relates to the possibility of property transfer.
Finally, I discuss a few advantages that the more complex idea of property brings.

Definition of property
Various definitions are provided in various statutes depending on their purposes and
requirements. The term "property" is not specifically defined in the Transfer of Property Act
of 1882.

When defining the term "property," lawyer Salmond noted that it may be used in one of the
following three senses:

All of a person's legal rights are included in the definition of property. That is to say, it
involves a man's whole ownership of both incorporeal and material objects.

The phrase exclusively refers to a man's proprietary rights, not his personal rights.

The phrase encompasses the rights to property ownership in tangible items like buildings and
other objects. Bentham, a different legal thinker, claimed that the term "property"
encompasses ownership of just material possessions. He has, in a way, interpreted the term in
a narrow sense.

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According to Austin, property refers to the broadest legal definition of pleasure, which
includes servitudes. Both proprietaries and a man's personal rights are included in the
property.

Jurisprudential Concept of property

The word "property" is derived from the Latin word proprietary and the French word
properties that both indicate "owning something." Ownership and the idea of property are
quite similar. There is a fine line between the two words, though. It is fair to assume that
people have long been aware of their legal right to take possession of property that is
rightfully theirs. Different jurists have given the term "property" many different
interpretations, including Salmond, Bentham, and Austin. Our comprehension of the subject
will improve if we carefully examine their definitions.

Jurists have noted that both the state and the law were established with the express intent of
defending one's property against the other and preserving local authority.

The words "right in rem" and "right in personam" are being differentiated, according to John
Salmond. The difference between the rights an individual has against other people is known
as the right in personam, which is basically the right an individual has against the entire
universe. In a sense, the leasehold or freehold of the land, copyrights, and patent rights that an
individual has for the invention are all included in this right in personam.

legal authority: The right or a legal right is the control one has over things they are lawfully
in possession of, which may include both incorporeal and material things. The definition
based on the property pertaining to the legal rights was also used by both William Blackstone
as well as Thomas Hobbes in this sense.

Corporeal property: In the context of an individual's property, corporeal objects are those for
which the person has a right of ownership or possession of the material object in question,
such as a watch, a horse, ownership of land, any item of jewellery, chattel, etc.; in this
context, debts or shares are not considered to be a person's property or possession.

Proprietary rights: An individual has ownership rights over any real estate they own, as well
as any debts or stock they may have, but not over other rights, such as the right to life,
freedom of speech, or privacy. The property rights do not apply to these other rights.

Austin, though, believed that a piece of property may mean different things at different
periods. In rare situations, it may also be used to allude to servitudes. It can also apply to life
interests. As long as servitudes are excluded, it might also be used to allude to the widest
legal rights of enjoyment. A person's whole collection of assets, including both rights in-rem
and rights in personam, may be included in this.

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Interpretation of the word property by Supreme Court

The Indian Constitution's later-omitted Article 19(1)(f) stated that "the rights which by
themselves and taken independently, are capable of being acquired, held, or disposed as
property"

Taking into account the case of Chiranjit Lal Choudhari v. Union of India, in which the
petitioner alleged that the Sholapur Spinning and Weaving Company (Emergency Provision)
Act, 1950, violated Articles 14, 19(1)(f), and 31 of the Indian Constitution, the validity of the
provision or act was contested. The Supreme Court only said that the government or the court
has the jurisdiction to establish a regulation about a single company class for safeguarding
any specific threat from the said class or company. Therefore, the provisions could be
extended to the proprietary right of the company and its employees and the government has
authority over the operation of the company further.

A recent ruling by the country's Supreme Court said that every living person has the right to
possess private property in their place of residence, making this a fundamental human right.
In the case of State of Haryana v. Mukesh Kumar[6], the court determined that a person's
property is not only a statutory or constitutional right, but also a human right, and that the
state or any higher authority cannot occupy the provided land of a person or individual
without following a specific notice or procedure prescribed by lawConsidering that in 1967,
the right to property was regarded as a fundamental right under Article 31 of the Indian
Constitution, the 44th Constitutional Amendment in 1978 provided that the right to property
ceased to be considered a fundamental right and was made a constitutional right under Article
300(A) of the Indian Constitution.

Kinds of property

1. Corporeal Property : Any physical item that can be touched and felt is
considered corporeal property. This is a tangible property, but it is primarily the right
of ownership in such property's material goods. Corporeal property includes all types
of physical property.

As far as ownership rights are concerned, it may be separated into two categories:
mobile and immovable property and personal and real property.
• Movable property: Movable property is property that may be moved from one
location to another without causing any damage. The 1882 Transfer of Property
Act does not define it. These are the laws that define moveable property.

"Movable property" comprises standing wood, growing crops and grass, fruit on
and juice in trees, and property of every other sort, except immovable property,
according to Section 2(9) of the Registration Act of 1908.
"Movable property" are meant to encompass corporeal property of all
descriptions, save land and items fixed to the soil or permanently fastened to
anything related to the earth, according to Section 22 of the Indian Penal Code,
1860.

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 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 property.

 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
intangible.

 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, factory, crops, etc, which is 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. 

2. Tangible property:

Tangible property has a physical existence and can be touched. This type of property
can be moved from one place to other, 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.

3. 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

4. Incorporeal property:

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 Incorporeal property means all kinds of intangible property. 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.

5. Public property:

As is clear from the definition, "public property" refers to assets owned by the
government on behalf of Indian citizens. There is no personal claim; it is the property
of the general public. These sites are often managed for the benefit of the public by
the government or any designated community. Public restrooms, parks, and
government hospitals are a few instances that come to mind.

6. Private property:

Private property, as the name implies, enables non-governmental organisations to

possess the property. It is property that a legal person owns for their own use or
advantage, and it might be physical or intangible, mobile or immovable, of any kind.
Apartments, securities, trademarks, private wells, and other items are typical
examples.

Conclusion

An individual's property is a possession. It is critical to emphasise that the property is the

result of an individual's hard work. The property as observed could be concluded to be a both
personal as well as proprietary right of an individual as put forth by various jurists, a person
owns something or the other, could be an expensive car or a car for daily use to make ends
meet, but it is still an individual's hard work or a possession they own irrespective of the cost
or the status of the possession or the way one uses it. It could also be stipulated that even a
piece of property they own is considered.