property

     

Property means Right of Action for things that can be exchange. Important types of property include real property (land), personal property (other physical possessions), and intellectual property (rights over artistic creations, inventions, etc.). A right of ownership is associated with property that establishes the good as being "one's own thing" in relation to other individuals or groups, assuring the owner the right to dispense with the property in a manner he or she sees fit, whether to use or not use, exclude others from using, or to transfer ownership. Some philosophers assert that property rights arise from social convention. Others find origins for them in morality or natural law (e.g. Saint Irenaeus).

Trivia about property

  • In 1978 California's Proposition 13 lowered the rates of this tax by 57%
  • If you're handling a prop in a play, you should know that "prop" is short for this
  • In the 1799 Fries Rebellion, Pennsylvania took up arms against a tax on this, including land & slaves

Found pages about property