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:
“I would gladly chastise those who represent things as different from what they are. Those who steal property or make counterfeit money are punished, and those ought to be still more severely dealt with who steal away or falsify the good name of a prince.”
—Elizabeth I (1533–1603)
“The one point on which all women are in furious secret rebellion against the existing law is the saddling of the right to a child with the obligation to become the servant of a man.”
—George Bernard Shaw (1856–1950)