Property rights are the legal rights that individuals or groups have to own, use, and manage their property. This can include land, buildings, and personal belongings. These rights allow people to control what happens to their property, such as selling it, renting it out, or making changes. Property rights are important because they help protect individuals' investments and encourage economic growth. When property rights are respected, people feel more secure in their ownership, which can lead to better maintenance and improvement of their assets. In contrast, when property rights are not enforced, it can lead to disputes and a lack of investment, ultimately harming the economy and community well-being.