Property

DEFINITION of 'Property'

1. Anything over which a person or business has legal title. Property may be tangible or intangible, but it is owned by an entity and is therefore considered an asset or a liability attributable to that entity.

2. An employee who is under contract because he or she has something - skills, talents, etc. - of such value that a business may not be able to function without his or her services.

3. Another way of saying real property, real estate or land.

BREAKING DOWN 'Property'

1. Some examples of tangible property that may be included as assets of a business are furniture, fixtures and equipment. Intangible property includes copywritten material, ideas, patents, rights and so on.

2. Because of their importance to the companies for which they work, some employees are under contract and actually considered to be the property of a business for a period of time. For example, celebrities and professional athletes are often termed the "exclusive property" of the production companies, sports franchises or other corporations that have them under contract (for example, a basketball star who endorses footwear for a company like Nike or Reebok may be that company's "exclusive property").

3. Land and buildings are examples of real property.

RELATED TERMS
  1. Property Tax

    A tax assessed on real estate by the local government. The tax ...
  2. Real Estate

    Land plus anything on it, including buildings and natural resources.
  3. Ground Lease

    An agreement in which a tenant is permitted to develop a piece ...
  4. Like-Kind Property

    Any two assets or properties that are considered to be the same ...
  5. Personal Property

    A type of property which, in its most general definition, can ...
  6. Land

    Property or real estate, not including buildings or equipment, ...
Related Articles
  1. Home & Auto

    10 Tips for Getting a Fair Price on a Home

    When the housing market booms, it's tougher than ever to get a good price. Make sure the house you choose is worth the price you pay.
  2. Home & Auto

    Attention Home Buyers! Why You Need A Lawyer

    Property transactions are complex and subject to specific state/local rules. A professional can simplify the process.
  3. Personal Finance

    To Rent Or Buy? There's More To It Than Money

    Your lifestyle, level of commitment and the trade-offs need to be carefully weighed.
  4. Home & Auto

    To Rent Or Buy? The Financial Issues

    Thinking of buying a home? We look at the initial and ongoing costs, as well as the so-called benefits.
  5. Retirement

    Gifting Your Retirement Assets To Charity

    There are several things to consider when it comes to this type of charitable giving. Make sure you're well informed.
  6. Retirement

    Estate Planning Basics

    Deciding what will happen to your assets when you pass away is a must - no matter how wealthy you are.
  7. Investing Basics

    The Complete Guide to Financing an Investment Property

    If you're considering adding an investment property to your portfolio, you need to know what your options are for financing its purchase.
  8. Investing Basics

    10 Habits Of Successful Real Estate Investors

    Enjoying long-term success in real estate investing requires certain habits. Here are 10 that effective real estate investors share.
  9. Investing Basics

    5 Types of REITs And How To Invest In Them

    Real estate investment trusts are historically one of the best-performing asset classes around. There are many types of REITs available.
  10. Investing Basics

    5 Simple Ways To Invest In Real Estate

    There are many ways to invest in real estate. Here are five of the most popular.
RELATED FAQS
  1. What price-to-book ratio is considered average in the chemicals sector?

    You can use Microsoft Excel to calculate the loan-to-value ratio if you have the mortgage amount and appraised value of a ... Read Full Answer >>
  2. Is it true that you can sell your home and not pay capital gains tax?

    It is true in most cases. When you sell your home, the capital gains on the sale are exempt from capital gains tax. Based ... Read Full Answer >>
  3. What is a derivative?

    A derivative is a contract between two or more parties whose value is based on an agreed-upon underlying financial asset, ... Read Full Answer >>
  4. What is securitization?

    Securitization is the process of taking an illiquid asset, or group of assets, and through financial engineering, transforming ... Read Full Answer >>
  5. Can hedge funds trade penny stocks?

    Hedge funds can trade penny stocks. In fact, hedge funds can trade in just about any type of security, including medium- ... Read Full Answer >>
  6. Can hedge funds outperform the market?

    Generating returns that exceed those provided by the broader market is the goal of nearly every investor. However, the methods ... Read Full Answer >>
Hot Definitions
  1. Black Swan

    An event or occurrence that deviates beyond what is normally expected of a situation and that would be extremely difficult ...
  2. Inverted Yield Curve

    An interest rate environment in which long-term debt instruments have a lower yield than short-term debt instruments of the ...
  3. Socially Responsible Investment - SRI

    An investment that is considered socially responsible because of the nature of the business the company conducts. Common ...
  4. Presidential Election Cycle (Theory)

    A theory developed by Yale Hirsch that states that U.S. stock markets are weakest in the year following the election of a ...
  5. Super Bowl Indicator

    An indicator based on the belief that a Super Bowl win for a team from the old AFL (AFC division) foretells a decline in ...
Trading Center