Property is anything where a court will enforce exclusive rights to the use, possession or title to the thing. It falls into three general types:

Property need not have value, nor does it have to be transferrable.

For example:

  • People are not property (although they once could be) because a court will not enforce rights to possess or use a person. However, livestock is property.
  • Licenses may be property if they are transferrable. For example, a taxi license can be treated as property, but a driving license cannot be.

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