Property law is essential to the establishment and protection of the tenure systems of property. Different countries and states apply varying yet specific laws that provide a basis for the selling, buying, reproduction, inheritance as well as the use of property. In general, there are two main types of property law namely, intellectual property law and real property law. Within these two categories of property law, there is a wealth of systems as well as conditions that deal with various aspects of the law. Below is an elaborated description of both legislation and what they entail.
• Intellectual property law
Intellectual property also referred to as copyright law covers any property that gets conceptualized as an idea. It is essential to note that unlike a piece of land or a building; intellectual property constitutes intangible possessions such as songs, blueprints, artwork, designs or a character for a book or film. The primary role of copyright law is to ensure the protection of the owners of an idea(s) whose value ultimately exists in the originality of the idea.
Intellectual property law deals with the formulation of systems that outline the ownership as well as the use of any form of intellectual property. There are various ownership policies formulated by law such as patents, copyrights, and trademarks that decree that the creator or owner of any piece of intellectual property has the sole use of it. Thus, if any individual or company infringes a property protected by the law, the act is considered a civil or criminal violation which may result in the violator facing a prison sentence, fines or other legal punishment.
• Real property law
Also referred to as real estate law, it covers the ownership of real properties via title deeds and ownership papers. Titles and property papers grant an individual(s) or entity the sole right of possessing a piece of property; whether it's a piece of equipment or furniture, a farm or building. Titles get utilized as evidence of the legal ownership of an object and thus they should get treated as vital documents which require safeguarding.
Additionally, real property law prevents the unlawful use or misuse of a piece of property by an individual or entity not appointed as the rightful owner. Thus it is illegal to squatter, vandalise, or carry out illegal activities on someone else's property without the owner's consent. Additionally, trespassing and breaking into someone's property are considered as a form of criminal infringement of property law.