The concept of the bundle of rights is recognised as the legal interests under common law, whereas the beneficial or the equitable interests lay its roots in equity, as opined in case of Minister of State for the Army v Dalziel (1944). Thus, the property is the exercise of the power over things within the reasonable permissibility, thereby defining it as the bundle of rights. However, Court in Yanner was reluctant to define property as a thing, rather it was opined that property can be defined for describing to entail the legal relationship attached with an individual to a thing. The Court in case of Milirrpum v Nabalco Pty Ltd (1971), defined property as something which can be used and enjoyed thereby excluding others and thus includes the right of alienation. The property is conceptualised under law as having the right on things thereby establishing a legal relationship between the object and an individual, was opined in case of Yanner v Eaton (1999). Thus, it is pertinent to say that, rights in properties created by law is the intangible rights whereas the tangible rights have an existence independent of law, however, those rights are governed by law.

Tangible property includes movables like cars, goods, chattels etc., whereas Incorporeal properties are trademark, patent and other intellectual property rights, and also includes superannuation rights as opined in case of Greville v Williams (1906) and also contractual rights comprising of debts as held in case of City of Swan v Lehman Bros Australia Ltd (2009). Real property is something which crops up from the attached interests fixated on immovables like, land and building etc., whereas Personal property comprises of things which are tangible or incorporeal, that is one which can be perceived and the other which is devoid of natural perception. Broader classification of the property provides two types, comprising of real and personal properties. The word property offers a picturesque view of an asset, and hence the underlying idea behind it becomes multifaceted. Property Law- Concept in Australia- Land Rights

Native Title subordinated to Non-Indigenous systems of title- Criticism.īibliography.

Property law- Concept in Australia- Land Rights.

Milirrpum v nabalco property