Whois & Analysis for engelvoelkers.com

In the abstract, property is that which belongs to or with something, whether as an attribute or as a component of said thing.

In the context of this article, property is one or more components (rather than attributes), whether physical or incorporeal, of a person's estate; or so belonging to, as in being owned by, a person or jointly a group of people or a legal entity like a corporation or even a society.

(Given such meaning, the word property is uncountable, and as such, is not described with an indefinite article or as plural) Depending on the nature of the property, an owner of property has the right to consume, alter, share, redefine, rent, mortgage, pawn, sell, exchange, transfer, give away or destroy it, or to exclude others from doing these things, as well as to perhaps abandon it; whereas regardless of the nature of the property, the owner thereof has the right to properly use it (as a durable, mean or factor, or whatever), or at the very least exclusively keep it.

In English common law, real property, real estate, realty, or immovable property is land which is the property of some person and all structures (also called improvements or fixtures) integrated with or affixed to the land, including crops, buildings, machinery, wells, dams, ponds, mines, canals, and roads, among other things.

The term is historic, arising from the now-discontinued form of action, which distinguished between real property disputes and personal property disputes.

Personal property was, and continues to be, all property that is not real property.

In economics, a luxury good is a good for which demand increases more than proportionally as income rises, and is a contrast to a "necessity good", for which demand increases proportionally less than income.

Luxury goods are often synonymous with superior goods and Veblen goods.