Property in the context of "Government organisations"

The act of cession is the assignment of property to another entity. In international law it commonly refers to land transferred by treaty. Ballentine's Law Dictionary defines cession as "a surrender; a giving up; a relinquishment of jurisdiction by a board in favor of another agency." In contrast with annexation, where property is forcibly seized, cession is voluntary or at least apparently so.

Personal property is property that is movable. In common law systems, personal property may also be called chattels or personalty. In civil law systems, personal property is often called movable property or movables—any property that can be moved from one location to another.

Personal property can be understood in comparison to real estate, immovable property or real property (such as land and buildings).

Slavery is the ownership of a person as property, especially in regards to their labour. It is an economic phenomenon and its history resides in economic history. Slavery typically involves compulsory work, with the slave's location of work and residence dictated by the party that holds them in bondage. Enslavement is the placement of a person into slavery, and the person is called a slave or an enslaved person.

Many historical cases of enslavement occurred as a result of breaking the law, becoming indebted, suffering a military defeat, or exploitation for cheaper labor; other forms of slavery were instituted along demographic lines such as race or sex. Slaves would be kept in bondage for life, or for a fixed period of time after which they would be granted freedom. Although slavery is usually involuntary and involves coercion, there are also cases where people voluntarily enter into slavery to pay a debt or earn money due to poverty. In the course of human history, slavery was a typical feature of civilization, and existed in most societies throughout history, but it is now outlawed in most countries of the world, except as a punishment for a crime. In general there were two types of slavery throughout human history: domestic and productive.

Private property is a legal designation for the ownership of property by non-governmental legal entities. Private property is distinguishable from public property, which is owned by a state entity, and from collective or cooperative property, which is owned by one or more non-governmental entities. Private property is foundational to capitalism, an economic system based on the private ownership of the means of production and their operation for profit. As a legal concept, private property is defined and enforced by a country's political system.

Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating Old English word weal, which is from an Indo-European word stem. The modern concept of wealth is of significance in all areas of economics, and clearly so for growth economics and development economics, yet the meaning of wealth is context-dependent. A person possessing a substantial net worth is known as wealthy. Net worth is defined as the current value of one's assets less liabilities (excluding the principal in trust accounts).

At the most general level, economists may define wealth as "the total of anything of value" that captures both the subjective nature of the idea and the idea that it is not a fixed or static concept. Various definitions and concepts of wealth have been asserted by various people in different contexts. Defining wealth can be a normative process with various ethical implications, since often wealth maximization is seen as a goal or is thought to be a normative principle of its own. A community, region or country that possesses an abundance of such possessions or resources to the benefit of the common good is known as wealthy.

Ownership is the state or fact of legal possession and control over property, which may be any asset, tangible or intangible. Ownership can involve multiple rights, collectively referred to as title, which may be separated and held by different parties.

The process and mechanics of ownership are fairly complex: one can gain, transfer, and lose ownership of property in a number of ways. To acquire property one can purchase it with money, trade it for other property, win it in a bet, receive it as a gift, inherit it, find it, receive it as damages, earn it by doing work or performing services, make it, or homestead it. One can transfer or lose ownership of property by selling it for money, exchanging it for other property, giving it as a gift, misplacing it, or having it stripped from one's ownership through legal means such as eviction, foreclosure, seizure, or taking. Ownership implies that the owner of a property also owns any economic benefits or deficits associated with the property.