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Property is frequently defined as the rights of a person with respect to a thing. The difficulties with this definition have long plagued legal theorists. The same problem of definition occurs in non-Western societies as well. In Russia, for example, the word property (sobstvennost) can have various meanings.
Property Law. There are two types of property: real property and Personal Property. Most of the legal concepts and rules associated with both types of property are derived from English Common Law. Modern law has incorporated many of these concepts and rules into statutes, which define the types and rights of ownership in real and personal property.