Property law is the area of law that governs the various forms of ownership and tenancy in real property (land as distinct from personal or movable possessions) and in personal property, within the common law legal system. In the civil law system, there is a division between movable and immovable property. Movable property roughly corresponds to personal property, while immovable property corresponds to real estate or real property, and the associated rights and obligations thereon.
The concept, idea or philosophy of property underlies all property law. In some jurisdictions, historically all property was owned by the monarch and it devolved through feudal land tenure or other feudal systems of loyalty and fealty.
Though the Napoleonic code was among the first government acts of modern times to introduce the notion of absolute ownership into statute, protection of personal property rights was present in medieval Islamic law and jurisprudence, and in more feudalist forms in the common law courts of medieval and early modern England.
Read more about Property Law: Theory, Property Rights and Rights To People, Property Rights and Personal Rights, Classification, Possession, Transfer of Property, Priority, Lease
Famous quotes containing the words property and/or law:
“In the Greek cities, it was reckoned profane, that any person should pretend a property in a work of art, which belonged to all who could behold it.”
—Ralph Waldo Emerson (1803–1882)
“Will mankind never learn that policy is not morality,—that it never secures any moral right, but considers merely what is expedient? chooses the available candidate,—who is invariably the devil,—and what right have his constituents to be surprised, because the devil does not behave like an angel of light? What is wanted is men, not of policy, but of probity,—who recognize a higher law than the Constitution, or the decision of the majority.”
—Henry David Thoreau (1817–1862)