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"Property" refers to anything that a person or entity owns. In the context of real estate, property usually refers to land and the buildings or structures on that land.
For example, let's say that John owns a piece of land with a house on it. In this case, the land and the house are John's property.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
Property is a term for something owned,
Like land, a house, or an apartment loaned.
It's something with value, that's for sure,
And it's something you can buy or procure.
If you own a home, or a piece of land,
It's your property, that's so grand!
You can do what you want with it, oh what a sight,
You can build or remodel, with all your might.