The Babylonian law clearly distinguished between real and personal property, or perhaps better, between movable and immovable property. Land was only transferred by written deeds and a complicated system of conveyancing grew up. One striking peculiarity of the Babylonian law of conveyancing was the right which the vendor had at any time to repurchase his land at the original purchase price. This must have had the effect to greatly unsettle titles. This right, however, could be expressly waived in the deed, at the time the sale was made, and we may presume that this was the customary procedure.

Mortgages of land as security for loans were very common. One kind of a mortgage was in the form of a sale, but with a reservation of title in the vendor until a breach of the terms of the agreement. The antichretic mortgage was the exchange of the use of the land for the use of the money. It was in substance the same as the "Welsh Mortgage" of the common law.

Personal property was naturally of great importance in such a commercial nation as Babylon. No particular form of sale was required, possession being prima facie evidence of ownership. On this point we see this system of law much in advance either of the early Roman law, or the early common law. Slaves were one species of recognized personal property, but slaves were not numerous.

The Babylonian law never recognized the right of a person to dispose of his property, either real or personal, by will. Every property owner, however, had the full right of disposition of property during his lifetime, and could annex to a deed of gift, the reservation of a life interest in himself. By this method the object of a will could be accomplished.