What defines a corporation's ability to own property?

The ability of a corporation to own property is fundamentally influenced by its corporate structure and governance, which outlines the rules for the corporation's operation and the authority of the individuals within it. The articles of incorporation and bylaws specify the powers granted to the corporation, including the rights to acquire, hold, and dispose of property.

While the type of property can have implications for ownership—certain types may require special considerations or approvals—the underlying principle that governs a corporation's ability to own property rests with its structure and governance. Additionally, state laws regarding ownership establish the legal framework within which corporations operate, impacting their ability to hold property in certain circumstances.

However, the correct answer encompasses primarily the corporate structure and governance, which are essential to understanding how a corporation comes into existence and operates within the confines of the law, including property ownership. In contrast, limiting the answer solely to the corporate structure overlooks the important interplay that exists among all elements involved in property ownership.