How is the term property defined legally?

The term property is defined legally as anything of value. This broad definition encompasses a wide variety of assets, including both tangible items (such as real estate, personal belongings, vehicles) and intangible items (such as intellectual property rights, stocks, and bonds). By recognizing property as anything of value, the legal framework ensures that the various forms of ownership and rights can be adequately protected and enforced.

This inclusive definition allows for the application of property laws in various contexts, ensuring clarity and consistency in transactions and ownership disputes. Classifying property merely as real estate, valuable items excluding money, or intangible assets only would limit the understanding and applicability of property law, which is meant to accommodate the diverse forms that property can take in both personal and commercial realms.