Texas Legal Entities
Property Law
Property law covers all topics concerning the ownership, leasing, usage, buying, and selling of various products, both in "real" property and personal property.
Real Property vs. Personal Property
Real property is determined to be big, fixed property, typically land, not personal or portable property. Civil law recognizes a distinction between real property and personal property, whereas common law does not; it treats them both equally.
What are Property Rights?
Property rights can include a wide range of things, but in all cases, they include the rights of a person to have possession and use of an object (whether land or a personal belonging). Contracts, on the other hand, are rights directed from one person to another person, not to an object. Property rights are said to be rights over an object, but enforceable against other people. Trespassing, for example, is a person's right to own private property, but is enforceable against the trespasser.
A business can own property, both real and "personal," just as another person can. It would be another of the company's assets, along with inventory, cash, etc. In the case of a sole proprietorship, the owner of the business would own the property just as if he had individual ownership of it.
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