Property rights encompass corporeal and incorporeal interests, defining ownership as bundles of use, possession and disposal rights.

Property denotes a broad aggregate of rights-corporeal or incorporeal, real or personal-that comprises ownership as the right to possess, use, enjoy and dispose of a thing. It includes intangible interests such as goodwill, insurance rights, intellectual property and choses in action. The law distinguishes general property (absolute ownership) from special property (qualified or limited interests), and treats transferability and a definite proprietary interest as essential to property status, excluding mere expectancies or conditional interests.

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