Property & kinds of Property

Property

Introduction

Property has wide connotation in its real sense and it refers to any or all kinds of property, movable or immovable, tangible or intangible, one thing that’s a provide of wealth or gain. A person, administrative unit has the perquisite to the things that’s in hand by him, i.e. the owner, is absolve to claim, use and dispose them as he pleases. There unit sure things like water, air, sun, etc. over that no-one can claim exclusive rights . and thus, cannot be cited as Property. It’s been made public by whole totally different people in many ways in which during which but it’s evident that each one among them treat property as the simplest way associated not as Associate in Nursing end. So, one can agree that property may be a method that to steer a good life. Most of the times property is printed as a fraction, i.e a relationship people with regard to a issue ‘or exclusively as a right or usually a combination of every, and this will be so as a results of people fail to grasp the advanced relationship between the two.

Meaning of Property

The term property comes from the Latin word ‘properietate’ and conjointly the French equivalent ‘proprius’ that suggests a issue in hand . The construct of property and possession unit very closely associated with one another . There unit usually no property whereas not possession and possession whereas not Property

Definition of Property

(a) John philosopher – to keep with philosopher, “ every man encompasses a property in his own person.” Every individual has the right to preserve his , that’s his partner, liberty and estate.”
(b) Jeremy legal expert – to keep with jurist “property is nothing quite the premise of s sure expectation of deriving thereafter sure blessings by a issue the reason of the relation throughout that we tend to tend to square Towards it

4. kinds of property

Property is really of two kinds corporeal Property and immaterial Property. Corporeal Property unit usually any divided into Movable and immovable Property and real and private property. Immaterial property is of two kinds-in re propria and rights in re aliena or encumbrances.

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1. Corporeal and immaterial Property –

1. Corporeal Property–Corporeal property is that the correct of possession in material things. Corporeal property is sometimes Visible and tangible. Corporeal property is also perceived by senses. It’s going to be seen or touched. Examples -A House, Land, Car, Bike
Corporeal property is additionally divided into two classes-

I. Movable Property (Chattels) and immovable property. (Land and buildings.
a) holding and personal Property.
b) immaterial Property –Incorporeal property to boot cited as as intellectual or typical property. It includes all those Valuable interests that unit protected by law. Immaterial property is intangible. It cannot be Perceived by Senses.
Examples – Patents, Copyrights, emblems etc.

I. Movable Property (Chattels) and immoveable property. (Land and buildings.
a) Real Property and private Property.
b) Incorporeal Property –Incorporeal property conjointly referred to as as intellectual or typical property. It includes all those Valuable interests that square measure protected by law. Discorporate property is intangible. It can not be Perceived by Senses.

Examples – Patents, Copyrights, emblems e

1. Property and immoveable Property –
All Corporeal Property is either movable or immoveable. In English law, these square measure termed as
Chattels and land severally.

a) Movable Property –Movable property is one, which might be transferred from one place to a different place with the human efforts.
b) Immovable Property -According to the overall Clauses Act, 1897 “Immovable property includes land, edges arising out of land and things hooked up to the world or for good fixed or something hooked up to the world.”
3) Real and private Property

–In English law, the property has been divided into the important and private property. This division Is a dead ringer for a good extent thereupon of immoveable or movable. The division into real and private isn’t supported any logical principle however could be a results of the course of legal development In England
a) Real property –The belongings includes all rights over land with such additions and exceptions, because the law Has deemed work.
b) Personal property –The law of non-public property includes all different proprietary rights whether or not they square measure in rem or face to face am.
4) holding non-public|and personal} property – Having regard possession property is either public or private –

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(a) holding– Public property is that in hand by the general public intrinsically in some governmental capability. Holding is employed as a designation of that square measure Public Juris and so, square measure thought-about as Being in hand by the general public. The complete state or the community and not restricted to the domain of personal person or that that belongs to a state or political constituents like provinces etc.
(b) Private property –The personal estate is that that is in hand by non-public|a personal} or another private person
Modes of Acquisition of Property- in line with Salmond, there area unit four forms of acquisition of property those area unit possession, prescription, agreement and inheritance.
a) Possession – A possession is that the objective realization of possession Possession suggests that Physical management over a issue or associate degree object. it’s clear proof of possession. The property that belongs to nobody i.e. Res nullius, belongs to the primary someone of it and he acquires a legitimate title to that against the globe. A property that is already in possession of somebody else, once nonheritable by possession, offers an honest title to the someone against all third persons except verity owner. whilst against verity owner, the someone is entitled to keep up his possession till evicted in due course by law. In such a case of adverse possession, there area unit in truth 2 house owners the possession of 1 is absolute and excellent, whereas that of the opposite is relative and imperfect and sometimes known as possessory possession by reason of its origin possession.
b) Prescription

-According to Salmond: “Prescription could also be outlined because the result of lapse of your time in making and destroying rights; it’s the operation of your time as a vestitive reality. Prescriptions area unit of 2 kinds-Positive or acquisitive prescription and negative or extinctive prescription.
i. Positive or acquisitive Prescription – Positive Prescription suggests that the creation of a right by the lapse of your time. as an example, right of means is nonheritable by continuing de facto use of it, unarguably and overtly for a amount Prescribed by law. beneath Indian Easement Act, this era is twenty years.
ii. Negative or Extinctive Prescription.– Negative prescription is that the destruction of a right by the lapse of your time. Example, the correct to sue for non-payment of a debt among a prescribed amount is destroyed when the lapse of that amount. In India, limitation Act prescribes 3 years amount for extinction of the correct.
iii. Agreement – Property may additionally be nonheritable by agreement that is enforceable by law. The owner of a right will transfer his rights in property to a different with or inconsiderately. If it’s for thought it’s known as a purchase and if it’s inconsiderately it’s known as a present. it’s one among the necessary principles of law supported the Maxim “Nemo DAT quad habet legime’, that’s nobody will convey a stronger title than he himself has, as a general rule.
o According to Alan Paton, associate degree agreement is associate degree expression by 2 or a lot of persons communicated one another to the opposite of a standard intention to have an effect on the professional relation between them. associate degree agreement has four essential components that area unit as follows –
1) There ought to be 2 or a lot of parties to associate degree agreement
2) Mutual consent of the parties
3) It ought to be communicated;
4) There ought to be common intention to have an effect on the legal relationship
iv. Inheritance
– Another technique of getting property is by suggests that of inheritance. once an individual dies bound rights survive him and expire to his heirs and successors. There area unit others that die with him. Those rights that survive him area unit known as inheritable or inheritable rights. Those rights that don’t survive him area unit known as un-inheritable rights. Proprietary rights area unit inheritable as they possess price. Personal rights aren’t inheritable as they represent simply his standing. However, there area unit bound exceptions to the overall rule. Personal right might not die just in case of hereditary titles. Proprietary rights perhaps un-heritable within the case of lease for the lifetime of tenant solely or just in case of joint possession.

Author: Ayush Srivastava,
Prayag vidhi Mahavidyalaya/ Law

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