8.3 Kinds of Property

The standard classifications: Classification First category Secondcategory Examples / significance Corporeal / Incorporeal Rights over material, tangible objects Rights over immaterial objects Land, goods vs. copyright, patents, trademarks, goodwill. Incorporeal property is intangible but fully ownable and transferable — the backbone of the IP regime; note Article 25's inclusion of IP in "property." Movable / Immovable Chattels, goods, cash Land and things attached to it Immovable property demands formalities (registration, deeds); movables are transferred by delivery. Nepal's land- registration (lalpurja) system rests on this line. Real / Personal (English tradition) Interests in land (real actions historically recovered the thing itself) All other property A historical division now mainly of exam interest; "realty" ≈ immovables. Private / Public (State) / Common Owned by individuals/entities Owned by the State or community Public property enjoys special protection (offences against public property); common resources (forests, grazing land, rivers) raise the "tragedy of the commons" problem — Nepal's community forestry is a globally studied third way. Tangible / Intangible Physical objects Choses in action (debts, shares, insurance claims) Choses in action are claims enforceable by suit — a debt is property though you cannot touch it. Two further pairs from Unit 6 recur here: rights in re propria (over one's own thing) versus in re aliena (over another's thing — leases, mortgages, easements, liens); and…