Laws_of_Property (1)
Laws_of_Property (1)
Laws_of_Property (1)
Introduction -
The concept of property occupies an important place in human life because it is practically
impossible to live without the use of material objects which constitutes the subject matter of
property.
Property may be classified into corporeal and incorporeal property, movable and immovable
property,
real and personal property, and public and private property. There are four important modes of
acquisition
Meaning of Property -
The term property is derived from the Latin word 'proprietary' and the French equivalent 'properties'
which
means a thing owned. The concepts of property and ownership are closely related. There can be no
property
without ownership and ownership without property. Property includes all the legal rights of a person.
In
its narrow sense, property includes proprietary rights but excludes personal rights. In modern times,
intellectual property like copyrights, patents, and trademarks has gained significance.
Definition of Property -
(a) Locke: "Every man has a property in his person." Every individual has the right to preserve his
property,
certain
Kinds of Property -
(I) Corporeal Property: Material, visible, and tangible, such as land, house, and car. It is divided into:
2. Immovable Property: Land or buildings as defined under the General Clauses Act, 1897 and
Transfer of
(II) Incorporeal Property: Intangible rights protected by law, such as patents, copyrights, and
trademarks.
1. Rights in re propria: Ownership rights over non-material objects like intellectual property.
2. Rights in re aliena: Encumbrances over another's property, e.g., leases, servitudes, securities,
and trusts.
2. Prescription: Rights created or extinguished over time, e.g., easements acquired through
long-term use.
1. Natural Theory: Property arises from natural reason and individual labor.
2. Metaphysical Theory: Proposed by Kant and Hegel, emphasizing personality and free will.
3. Historical Theory: Property evolved from collective ownership to individual ownership over time.
4. Positive Theory: Spencer argued property is a result of individual labor and effort.
6. Sociological Theory: Views property as a social institution ensuring maximum societal welfare.
Conclusion -
Property is a source of power, labor, and investment. Its value typically appreciates, making it
essential to
understand its legal and historical background. Property and law are intertwined, as neither exists
without
the other. Recognizing this relationship underscores the significance of property in jurisprudence.