The existence of concept of property is from the ancient period. This concept has a very broad history.

There are many philosophies laid down by many thinkers like Bentham, Laski. These philosophies are
very helpful in understanding the concept of property. The main finding was that the term property is
defined in different ways in each act as to its use. As in Sale of Goods act 1930 it is defined differently
than in Benami Transactions (Prohibition) Act, 1988. In transfer of property act which is most important
act which deals with property does not have definition of the term property. There are many kinds of
property as to it uses.

Thus, the determination of whether the property is movable or immovable becomes a facts-and-
circumstances question. Needless to say, the question is as old law of properties – dating back to
centuries.