Discuss (c) hereditary vs. acquired property

The term's three everyday uses the lawyer must sort: (i) the object ("that is my property" — the land, the house, the buffalo); (ii) the rights over the object ("my property right" — the legal relation); (iii) the aggregate of a person's valuable rights ("his property" in the insolvency sense). Law's preferred meaning is the second: property is not the thing but the right over things — a bundle of legal relations between persons with respect to things: to use, exclude, derive income from, and transfer. The lawyer's working definition: property is any right in rem — good against the world — over a determinate object, movable or immovable, tangible or intangible. The Nepali lawyer's daily property is land: the kitta, the lalpurja (the ownership certificate), the boundary and the plot — Nepal being a land-centred legal economy where land is wealth, credit, status and dispute in one.