#Nature of property#.

Property means ownership, and "ownership" is the abstract noun expressing the quality of possessing a thing.

Correspondingly, "owner" is the Anglo-Saxon equivalent of "proprietor." Property thus, fundamentally, means not an object held, or possessed, but the right in or belonging to a person to control something that he owns.

Ownership is a legal right to control under certain conditions.[2] Physical, possession of an object is not necessarily ownership.
There are different kinds of ownership.

It may be private, as that of individuals, families, partnerships, or corporations; or it may be public, as that of nations, states, counties, cities and towns, owning such things as public buildings, parks, highways, the Adirondack forest-reserve, or the Erie Canal.