The Nature of Property

Some persons, wrongly, think that Property, based upon Property Law, is the ground itself, with the building on it. Instead, Property is a legal interest which includes, but is not limited to, a right of possession of some thing, such as, a car, a house, a lot, a building, etc. Historically, there are three defintions of Property which can be discussed.
First, Blackstone wrote that Property is like a bundle of sticks, with each stick representing a legal right with respect to the thing in question. Next, The First Restatement of Property, published by American Law Institute, defines Property as, the legal meaning relationship between persons with respect to some thing, tangible or intangible. Finally, Critical Realism or Critical Thomism would say that Property is the legal meaning relationship between persons with respect to some thing, tangible or intangible, which we can reasonably judge to be probably valid. Thus, we can see that Property is neither real nor unreal or ideal, but instead, is relatively real. Property is relatively real because it invovles a dialectic of both the ideal (legal meaning framework) and the real (the thing which is tangible or intangible).