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The Columbia Encyclopedia, Sixth Edition | 2008 | The Columbia Encyclopedia, Sixth Edition. Copyright 2008 Columbia University Press. (Hide copyright information) Copyright

property rights to the enjoyment of things of economic value, whether the enjoyment is exclusive or shared, present or prospective. The rightful possession of such rights is called ownership. Ownership necessarily is supported by correlative rights to exclude others from enjoyment. By extension of usage, the things in which one has property rights are called one's property; thus the person who holds title to a house, even though there is a mortgage outstanding, calls it his or her "property."

Nature of Modern Property

Modern Anglo-American property law provides at least potentially for the ownership of nearly all things that have or may have value. The terminology and much of the content of modern property law stem from its origins in feudalism . The fundamental division is into realty (or real estate or real property) and personalty (or personal property). (For rules affecting marital property, see husband and wife ; for certain special types of property, see copyright and patent .)

Realty

Realty is chiefly land and improvements built thereon. Sometimes it is comprehensively, but loosely, described as lands, tenements (holdings by another's authority), and hereditaments (that which is capable of being inherited). Formerly its chief characteristics in a legal sense were that it went by descent to the heir of the owner (who had no control over its disposition) and that ownership might be recovered from any other party by a lawsuit (a so-called real action). Also possessing such characteristics, and hence classified as real property, were titles of honor, heirlooms, and advowsons, i.e., rights to sell ecclesiastical benefices. The manner in which realty is owned is called an estate; specifically, ownership is a fee of some sort, for example, an estate in fee simple (see tenure ).

Personalty

Personal property consists chiefly of movables, that is, portable objects. Typically (but by no means invariably) the owner can by will , gift , or sale determine its distribution (note the contrast with the term descent ), and if it has been wrongly taken, a lawsuit (a so-called personal action) will recover damages but will not restore the object. Certain types of interests in land are also classified as personalty; examples are leases for a period of years, mortgages, and liens.

Limits on Ownership

The need for unobstructed intercourse between nations prohibits the assertion of ownership of the high seas, and special rules apply to territorial waters (see waters, territorial ) and to domestic navigable water . Air space beyond that which can be used by airplanes is often considered not subject to ownership. In a sense, all land presently or ultimately belongs to the state, for whatever is not actually owned by the public authority may be transferred to it by escheat (when there is no heir to the owner) or in condemnation proceedings under the power of eminent domain . In fact, much or most land in capitalist societies is in private hands, although public lands may be extensive and ownership of subsoil mineral wealth or of buried objects (see treasure-trove ) may in some instances be public. (See also public ownership .)

Development of Property Law

Protection and content are given to the ownership of property by custom or law. The type of property law in a society may be taken as an index of its social and economic system. For example, a primitive pastoral tribe that must be closely united to resist its enemies may hold pasture lands in common or rotate ownership, thereby avoiding disruptive quarrels. By contrast, in societies that enjoy an economic surplus and relative security, the institution of private property may be highly developed, with marked division of ownership and a competitive struggle for control. On the other hand, private property may be all but eliminated in certain societies, as in those envisioned by Karl Marx.

In Europe, the distinction between realty and personalty served the purposes of early feudal society. The ownership and disposition of land, the basis of most wealth and the keystone of the social structure, were controlled to protect society, while the ownership of personalty, being of minor importance, was almost unfettered.

As the economic system was altered during the late Middle Ages, however, personalty lost its subordinate position and grew to be the economic mainstay of the rising middle class of merchants and manufacturers. Personalty could be bought and sold in relative freedom without the hindrances that beset the disposal of land. By taking advantage of its economic freedom, the middle class was able to replace the landed aristocracy as society's dominant class. Concurrently, it sought to relieve real property of its medieval fetters in order to use it, along with personalty, as revenue-producing capital.

Gradually the law of realty tended in all important respects to be assimilated to that of personalty. In time land could be sold or distributed by will with almost perfect freedom; in effect it joined the list of other commodities. Differences of detail in the law of realty and personalty persist, especially in the transfer of realty, however, which involves great formality.

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"property." The Columbia Encyclopedia, Sixth Edition. 2008. Encyclopedia.com. 29 Nov. 2009 <http://www.encyclopedia.com>.

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properties

A Dictionary of Computing | 2004 | | © A Dictionary of Computing 2004, originally published by Oxford University Press 2004. (Hide copyright information) Copyright

properties The properties of an object are parameters associated with that object and cover a wide range of items. Properties cover such diverse things as date of creation/modification, actions to be taken when activated, protection status, etc.

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JOHN DAINTITH. "properties." A Dictionary of Computing. 2004. Encyclopedia.com. 29 Nov. 2009 <http://www.encyclopedia.com>.

JOHN DAINTITH. "properties." A Dictionary of Computing. 2004. Encyclopedia.com. (November 29, 2009). http://www.encyclopedia.com/doc/1O11-properties.html

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property

A Dictionary of Sociology | 1998 | | © A Dictionary of Sociology 1998, originally published by Oxford University Press 1998. (Hide copyright information) Copyright

property Property and property rights are central to capitalist societies. Perhaps because they are largely taken for granted in this context they have received relatively little attention from sociologists. By comparison, political philosophers and economists have debated the nature of property at length, and fiercely contested its origins (see F. Snare , ‘The Concept of Property’, American Philosophical Quarterly, 1972, and E. G. Furubotn and and S. Pejovitch , ‘Property Rights and Economic Theory’, Journal of Economic Literature, 1972
).

Possibly the most influential modern explanation of the origins of private property is John Locke's theory of natural rights, which states that property ownership rests on the individual's rights to use whatever is in the natural environment and is deemed necessary for the satisfaction of needs, and the right to own whatever one has expended labour upon (provided it is not then wasted). Locke's theory thus provides three criteria for a naturally just distribution of property: namely, need (or possibly desire), expenditure of labour (which includes creative entrepreneurship), and use (which some have interpreted as exploitation and accumulation).

Since Locke's theory held that property was that which a man had ‘mixed his labour with’, it offered a potential challenge to the early-modern status quo (although Locke himself had set out to defend this), on the grounds that it implied it was neither natural nor just for the privileged few in society to enjoy the surplus created by the labour of the many. Utilitarianism met this challenge, with the argument that private property and its laws had no origins or justification other than utility: that is, the rules of property arise out of conventions which experience has shown to be the most useful for the promotion of human happiness. For example, David Hume considered the principal rules establishing title to property to be those of present possession, first possession, long possession, accession, and succession, and argued that the justice of these rules was rooted in the history of social experience. The present system was the ‘right’ system because it had clearly evolved in response to people's needs. Since this approach offered not only an explanation but also a justification for the existing distribution of property it became central to the philosophy of classical liberalism during the nineteenth century.

The conservative reaction to this philosophy of property opposed the principles of utility with those of tradition, experience, and stewardship. Conservatives conceived of property as a partnership between the generations, epitomized by the continuity of the landed estate, of which the landowner was a steward who served (rather than owned) the property, under the obligation of maintaining allegiance to the status quo and thus preserving a stable social order.

The Scottish political economists– John Millar, Adam Ferguson, and Adam Smith—extended the analysis of property relations to take account of class formation. This, in turn, encouraged Karl Marx to offer the first systematic sociological account of the importance of property, stressing the links between property ownership, political domination, and ideological representations. In Marx's formulation, property is power, and the different forms of property define the ‘social conditions of existence’ upon which rises the superstructure of the state, civil society, and ideology. Somewhat later, Max Weber also argued that ‘property and lack of property are … the basic characteristics of all class situations’, although he accepted that the propertied classes were highly differentiated in the types of property they held and the meaning which they gave to its utilization.

This last observation opens up the issue which dominates contemporary sociological discussions of property. These have moved away from considering ideologies of property and the social organization of propertied strata, and concentrated attention instead on the consumption of property, notably the diverse ways in which ownership of certain types of property (for example houses, cars, and clothes) shapes social relations and social meanings, and plays an important role in the construction of social identities.

Most sociologists have been concerned with private property. However, non-capitalist forms of property ownership (including possession of symbolic property) have been extensively studied by anthropologists, and sociologists have recently extended their analyses to include state or collective ownership, and inheritance. The best short introduction to the topic is Andrew Reeve's Property (1986). For a sociological case-study of the material and symbolic significance of property see Peter Saunders , A Nation of Home Owners (1989
). See also BOURGEOISIE; COLLECTIVE CONSUMPTION; CONSUMPTION, SOCIOLOGY OF; CONSUMPTION SECTORS; GIFT RELATIONSHIP; KULA RING; PRIVATIZATION; PUBLIC GOOD.

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