All of the rights of ownership, including the rights of possession, to enjoy, to use, and to dispose of a chattel or a piece of land. common property. Property held jointly by two or or more persons, or property that belongs to all citizens. See also community property. incorporeal property. Property without tangible value, but that represents something of value, such as a stock certificate, which is just a piece of paper, but which indicates ownership of stock. Something of value. intangible...