Characteristics of property rights John Tarrant * Property rights are difficult to define and there are different views on what is included within the property concept. It is often suggested that only rights in rem are property rights. The author rejects that view because the case law suggests that many rights in personam are also property rights. The author argues that there are a number of different types of property rights. Some property rights correlate with a duty of non-interference while others correlate with obligations. A further type of property right does not correlate with either a duty or an obligation. Understanding the characteristics of these different types of property rights is critical to understanding the concept of property. Introduction Property rights can have many characteristics. These may include the right to enjoy the benefit of a tangible thing free from the interference of others, the ability to assign the property right or the right to be paid a specified sum of money. To define property it is necessary to examine these characteristics. When they are examined it becomes clear that there are different types of property rights. For example, some property rights correlate with a duty of non-interference while others correlate with an obligation. Further some property rights do not correlate with either a duty or an obligation. Accordingly it is not possible to define all property rights by reference to one definition. Instead different types of property rights need to be recognised and not all of these are rights in rem. Three issues are addressed in this article. The first is whether property rights are always rights between persons or primarily rights to things. It will be argued that the theory accepted by the courts is that property rights are generally, but not always, rights to things. Secondly, the issue of intangible things as objects of property rights will be examined. The analysis suggests that property rights with different characteristics can arise. When the object of a property right is tangible a property right represents a relationship between a person and that physical thing. These property rights correlate with duties of others in society not to interfere with things that are the object of property rights. For these types of property rights there is no direct relationship between a person with a property right to a thing and other members of society. However, with some intangible things there is a direct relationship between two persons. This is demonstrated by reference to contractual obligations including debts. The object of the property right is not a person, but the obligation to which the person is subject. This gives rise to a different type of property right; a right against the person subject to the obligation. Thirdly, property rights that do not correlate with a duty or an obligation will * SJD, LLM, LLB(Hons), BSc(Grad), BCom, BA, GradDipEd, DipFinMangt, GradDipTax, GDipAppFin, GradCertLawTchg. Senior Lecturer, Law School, University of Western Australia. 51