How is property defined in a legal context?

In a legal context, property is broadly defined as anything of value that can be owned or controlled. This includes not only physical items like houses, cars, and personal belongings but also intangible assets such as stocks, intellectual property, and financial instruments. The inclusive nature of this definition allows for a wide range of rights and interests that individuals or entities can possess, affirming their ownership or claim to those items.

Real estate, while a significant category of property, is not the only type, which is why defining property solely as real estate would be too narrow. Similarly, while valuable information and items used for personal enjoyment can certainly be considered property under certain circumstances, they do not encompass the entire scope of what property can be. Therefore, the broad definition that incorporates anything of value best captures the legal understanding of property. This inclusivity is essential for various legal applications, including property rights, contracts, and taxation.