property

property
In a popular sense, a chattel or tract of land. 42 Am J1st Prop § 3. Inclusive of both real estate and personalty. Anno: 115 ALR 553; 57 Am J1st Wills § 1338. Inclusive of both tangibles and intangibles; that which is corporeal and that which is incorporeal. Bouse v Hutzler, 180 Md 682, 26 A2d 767, 141 ALR 843. Strictly, that dominion or indefinite right of user, control, and disposition which one may lawfully exercise over particular things or objects. 42 Am J1st Prop § 2. The right and interest which a man has in lands and chattels to the exclusion of others. Ralston Steel Car Co. v Ralston, 112 Ohio St 306, 147 NE 513, 39 ALR 334. The right of a person to possess, use, enjoy, and dispose of a thing. Willcox v Penn Mut. Life Ins. Co. 357 Pa 581, 55 A2d 521, 174 ALR 220. The free use, enjoyment, and disposal of a person's acquisitions without control or diminution save by the law of the land. Department of Financial Institutions v General Finance Corp. 227 Ind 373, 86 NE2d 444, 10 ALR2d 436. Not the material object itself, but the right and interest or domination rightfully obtained over such object, with the unrestricted right to its use, enjoyment, and disposition. Howlett v Doglio, 42 Ill 311, 82 NE2d 708, 6 ALR2d 790; Akron v Chapman, 160 Ohio St 382, 116 NE2d 697, 42 ALR2d 1140. A species of title, inchoate or complete, legal or equitable, embracing rights which lie in contract, executory or executed. Smith v United States (US) 10 Pet 326, 9 L Ed 442. As the term is used in the guarantee of the Fourteenth Amendment:–the right to acquire, possess, and enjoy particular things and objects in any way consistent with the equal rights of others and the just exactions and demands of the state. Wright v Hart, 182 NY 330, 75 NE 404 Ives v South Buffalo R. Co. 201 NY 271, 94 NE 431; all valuable interests which a man may possess outside of himself–outside of his life and liberty–being more than that which a person owns. 16 Am J2d Const L § 364. As the term appears fit constitutional provisions respecting taking of property:–a word of most general import, extending to every species of right and interest, capable of being enjoyed its such, upon which it is practicable to place a money value. 26 Am J2d Em D § 173. As used fit a statutory provision authorizing a corporation to receive "property" in payment for its stock, the term is not used fit its broad sense which includes anything susceptible of ownership, but is limited to that which may readily be applied to the debts of the corporation. 18 Am J2d Corp § 258.

Ballentine's law dictionary. . 1998.

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