ABSTRACT
In traditional property law theory the element which distinguishes property from other legal
relationships is that property is transferable.47 Therefore, a chose in action is accepted as being
property, a copyright is accepted as being property, and an equitable interest under a trust is
accepted as being property. All of these relationships, while not being rights of absolute ownership
in tangible property, necessarily are property rights in themselves because they are capable of
being transferred to third parties.
