The rights of an owner over property. These generally include rights to use property, and to exclude others from it. Property rights are not absolute: the use of assets may be subject to legal controls, such as the need for planning permission for changes in the use of land and buildings. The law also restricts the methods owners may use to exclude others from their property: for example, in the UK dwellings can only be reoccupied by their lawful owners through the courts and not by force. It is a hindrance to economic efficiency if it is not clear who owns property, and what their rights over it are; investment is made unnecessarily risky if the identity and rights of owners are not clearly defined.

• turnover tax
• two-gap model
• two-part tariff
• two-stage least squares
• two-tier board
• type I and II errors
• unbiased estimator
• unbundling
• uncertainty
• uncompetitive
• UNCTAD
• undated security
• under-capitalized
• under-developed country
• under-funded pension scheme
• underlying rate of inflation
• under-subscription
• under-valued currency
• underwriting
• undistributed profits
• UNDP
• unearned income
• unemployable
• unemployment
• unemployment benefit