Source : Webster's Revised Unabridged Dictionary (1913)

Property \Prop"er*ty\, n.; pl. {Properties}. [OE. proprete, OF.
   propret['e] property, F. propret['e] neatness, cleanliness,
   propri['e]t['e] property, fr. L. proprietas. See {Proper},
   a., and cf. {Propriety}.]
   1. That which is proper to anything; a peculiar quality of a
      thing; that which is inherent in a subject, or naturally
      essential to it; an attribute; as, sweetness is a property
      of sugar.

            Property is correctly a synonym for peculiar
            quality; but it is frequently used as coextensive
            with quality in general.              --Sir W.
                                                  Hamilton.

   Note: In physical science, the properties of matter are
         distinguished to the three following classes: 1.
         Physical properties, or those which result from the
         relations of bodies to the physical agents, light,
         heat, electricity, gravitation, cohesion, adhesion,
         etc., and which are exhibited without a change in the
         composition or kind of matter acted on. They are color,
         luster, opacity, transparency, hardness, sonorousness,
         density, crystalline form, solubility, capability of
         osmotic diffusion, vaporization, boiling, fusion, etc.
         2. Chemical properties, or those which are conditioned
         by affinity and composition; thus, combustion,
         explosion, and certain solutions are reactions
         occasioned by chemical properties. Chemical properties
         are identical when there is identity of composition and
         structure, and change according as the composition
         changes. 3. Organoleptic properties, or those forming a
         class which can not be included in either of the other
         two divisions. They manifest themselves in the contact
         of substances with the organs of taste, touch, and
         smell, or otherwise affect the living organism, as in
         the manner of medicines and poisons.

   2. An acquired or artificial quality; that which is given by
      art, or bestowed by man; as, the poem has the properties
      which constitute excellence.

   3. The exclusive right of possessing, enjoying, and disposing
      of a thing; ownership; title.

            Here I disclaim all my paternal care, Propinquity
            and property of blood.                --Shak.

            Shall man assume a property in man?   --Wordsworth.

Property \Prop"er*ty\, v. t.
   1. To invest which properties, or qualities. [Obs.] --Shak.

   2. To make a property of; to appropriate. [Obs.]

            They have here propertied me.         --Shak.

Source : WordNet®

property
     n 1: any area set aside for a particular purpose; "who owns this
          place?"; "the president was concerned about the property
          across from the White House" [syn: {place}]
     2: something owned; any tangible or intangible possession that
        is owned by someone; "that hat is my property"; "he is a
        man of property"; [syn: {belongings}, {holding}, {material
        possession}]
     3: a basic or essential attribute shared by all members of a
        class; "a study of the physical properties of atomic
        particles"
     4: a construct whereby objects or individuals can be
        distinguished; "self-confidence is not an endearing
        property" [syn: {attribute}, {dimension}]
     5: any movable articles or objects used on the set of a play or
        movie; "before every scene he ran down his checklist of
        props" [syn: {prop}]