Property is a term describing anything that a person or a business has legal title over, affording owners certain enforceable rights over said items. Examples of property, which may be tangible or intangible, include automotive vehicles, industrial equipment, furniture, and real estate—the last of which is often referred to as "real property."

Most properties hold current or potential monetary value and are therefore considered to be assets. But properties can simultaneously be liabilities in some situations. Case in point: if a customer sustains an injury on a company's property, the business owner may be legally responsible for paying the injured party's medical bills.