noun prop·er·ty \ˈprä-pər-tē\

: something that is owned by a person, business, etc.

: a piece of land often with buildings on it that is owned by a person, business, etc.

: a special quality or characteristic of something

plural prop·er·ties

Full Definition of PROPERTY

a :  a quality or trait belonging and especially peculiar to an individual or thing
b :  an effect that an object has on another object or on the senses
c :  virtue 3
d :  an attribute common to all members of a class
a :  something owned or possessed; specifically :  a piece of real estate
b :  the exclusive right to possess, enjoy, and dispose of a thing :  ownership
c :  something to which a person or business has a legal title
d :  one (as a performer) who is under contract and whose work is especially valuable
e :  a book or script purchased for publication or production
:  an article or object used in a play or motion picture except painted scenery and costumes
prop·er·ty·less \-ləs\ adjective
prop·er·ty·less·ness \-nəs\ noun

Examples of PROPERTY

  1. We are not responsible for the loss of personal property.
  2. He was trying to sell stolen property.
  3. He was caught trespassing on private property.
  4. She owns all sorts of property around town.
  5. The students were caught smoking on school property.
  6. He owns several valuable properties in the area.
  7. a developer of commercial properties
  8. One of the properties of helium is its lightness.
  9. A unique property of garlic is its strong odor.
  10. The two plants have similar physical properties.

Origin of PROPERTY

Middle English proprete, from Anglo-French propreté, from Latin proprietat-, proprietas, from proprius own
First Known Use: 14th century

Related to PROPERTY

parcel, plat, plot, lot, tract
See Synonym Discussion at quality

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer
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