The right and interest which a man has in lands and chattels to the exclusion of others. It is the right to enjoy and to dispose of certain things in the most absolute manner as he pleases, provided he makes no use of them prohibited by law.
Property is divided into real property, and personal property.
Property is also divided, when it consists of goods and chattels, into absolute and qualified. But property in personal goods may be absolute or qualified without ally relation to the nature of the subject-matter, but simply because more persons than one have an interest in it, or because the right of property is separated from the possession. Personal property is further divided into property in possession, and property or choses in action. Property is again divided into corporeal and incorporeal. Property is lost, in general, in three ways, by the act of man, by the act of law, and by the act of God.