There are many types of laws to govern the society and business. Out of those laws one law which is recently gaining prominence is the property law. The law governs areas like ownership or tenancy in personal property and real property. Real property is a property which distinct from movable or personal possessions. In simple words it is the property which cannot be transferred to another place. For example a house cannot be taken to another place. Personal possessions are the things which are movable. An example of it can be cars or jewelry. There were many laws in the history regarding the ownership of property. Previously it was considered that all the property belongs to the king or a monarch. Now the laws have changed and property owners can be individuals, a government organization or a private company.