This paper aims to explicate the concept of property, regarded as the minimal sense of the word “property”, in ordinary as well as legal language. The main claim is that the concept of property consists in a set of one or more deontic modalities that regulate the relations between persons in connection with one or more goods. The concept of property is then distinguished from differing conceptions of property, and its relations with other legal concepts are analysed. Then, some observations on the criteria for applying the concept and on the transferability of property are presented. Finally, the utility of the knowledge of the concept of property is discussed.