Which of the following best defines property for purposes of the act?

• A. Real property only.
• B. Personal property only.
• C. A chose in action only.
• D. Anything that may be the subject of ownership and is real or personal property, or is a chose in action.

Answer: (D)

The main idea is that property under the act includes any rights or items that can be owned, not just physical things. It isn’t limited to land (real property) or to tangible goods (personal property); it also covers intangible rights that have ownership value, like a debt or a right to sue (a chose in action). That broad view is why the best choice defines property as anything that may be owned and falls into real property, personal property, or a chose in action. The other options are too narrow because they exclude large categories of property (either real or personal or chose in action) that the act clearly treats as property.