Most legal systems distinguish different types i.e. immovable property, estate in land, real estate, real property, especially between land and all other forms of property - goods and chattels, movable property or personal property. They often distinguish tangible and intangible property.

The development of more complex forms of non-tangible property, personal property was divided into tangible property such as cars, clothing, animals and intangible or abstract property e.g. financial instruments such as stocks and bonds, etc., which includes intellectual property i.e. patents, copyrights, and trademarks .

Real estate or immovable property is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. Real estate i.e. immovable property is often considered synonymous with real property, also sometimes called realty, in contrast with personal property , also sometimes called chattel or personalty. However, for technical purposes, some people prefer to distinguish real estate, referring to the land and fixtures themselves, from real property, referring to ownership rights over real estate. The terms real estate and real property are used primarily in common law, while civil law jurisdictions refer instead to immovable property.

Private property refers to a kind of system that allocates particular objects like pieces of land to particular individuals to use and manage as they please, to the exclusion of others ,even others who have a greater need for the resources and to the exclusion also of any detailed control by society. Though these exclusions make the idea of private property seem problematic, philosophers have often argued that it is necessary for the ethical development of the individual, or for the creation of a social environment in which people can prosper as free and responsible agents.