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abandoned property
n. property left behind (often by a tenant) intentionally and permanently when it appears that the former owner (or tenant) does not intend to come back, pick it up, or use it. Examples may include possessions left in a house after the tenant has moved out or autos left beside a road for a long peri...
after-acquired property
n. 1) personal or real property acquired by a debtor after he/she has agreed that all his/her property secures a debt. Thus, the new property also becomes security for the debt. This includes improvements to real property which is security on a deed of trust or mortgage and personal property pledged...
common property
n. 1) real property owned by "tenants in common," who each have an "undivided interest" in the entire property. 2) property managed by a homeowners' association in a condominium project or a subdivision development, which all owners may use and each owns a percentage interest in. 3) lands owned by t...
community property
n. property and profits received by a husband and wife during the marriage, with the exception of inheritances, specific gifts to one of the spouses, and property and profits clearly traceable to property owned before marriage, all of which is separate property. Community property is a concept which...
intangible property
n. items such as stock in a company which represent value but are not actual, tangible objects.
literary property
n. the writings of an author which entitles him/her to the use of the work, including publication, and sale or license for a profit to others who will then have the right to publish it. Literary property includes books, articles, poetry, movie scripts, computer programs and any writing which lends i...
personal property
n. same as "personalty."
private property
n. land not owned by the government or dedicated to public use.
property
n. anything that is owned by a person or entity. Property is divided into two types: "real property," which is any interest in land, real estate, growing plants or the improvements on it, and "personal property" (sometimes called "personalty"), which is everything else. "Common property" is ownershi...
property damage
n. injury to real or personal property through another's negligence, willful destruction or by some act of nature. In lawsuits for damages caused by negligence or a willful act, property damage is distinguished from personal injury. Property damage may include harm to an automobile, a fence, a tree,...
property tax
n. an annual governmental tax on real property or personal property based on a tax rate (so many dollars or cents per $100 value of the property). The value is usually established by an Assessor, a county official. In California the assessed value of real property is based on the amount of the last ...
public property
n. property owned by the government or one of its agencies, divisions, or entities. Commonly a reference to parks, playgrounds, streets, sidewalks, schools, libraries and other property regularly used by the general public.
quasi community property
n. in community property states, property acquired by a couple who have not been married, but have lived and purchased the property as if they were married. Often this includes property purchased or received by a couple shortly before marriage.
real property
n. 1) all land, structures, firmly attached and integrated equipment (such as light fixtures or a well pump), anything growing on the land, and all "interests" in the property, which may include the right to future ownership (remainder), right to occupy for a period of time (tenancy or life estate),...
separate property
n. in community property states (California, Texas, Arizona, Idaho, Louisiana, New Mexico, Nevada and Washington), the property owned by one spouse which he/she acquired: a) before marriage, b) by inheritance, c) as a gift, d) assets traceable to other separate property such as money received from s...
tangible property
n. physical articles (things) as distinguished from "incorporeal" assets such as rights, patents, copyrights and franchises. Commonly tangible property is called "personalty."



The People's Law Dictionary by Gerald and Kathleen Hill Publisher Fine Communications