Property law is a field of law within the common law system which governs ownership and tenancy with respect to personal property and real property, which is land distinct and separate from personal or moveable possessions. Personal property is anything other than real estate land that can be the subject of ownership, up to and including stocks, bonds, money, patents, furniture, copyrights, and intellectual property. Real property includes land and anything originally built on, growing on, or affixed to it, such as buildings, crops, natural features, and so on.
Property law is responsible for regulating who may purchase property and what type of property, determining ownership of property, and establishing distribution of property upon death of the owner or owners. Property law generally operates at the level of the state, unless the land is federal property, in which cases the federal government is responsible for making the determination.
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