Abstract: The matter under research is the applicable laws of the Russian Federation as well as opinions of researchers on the correspondence of terms 'property' and 'belongings'. In addition, the authors of the article have also analyzed competences of internal affairs officials in property protection and their efficiency under the conditions of reformation of the Ministry of Internal Affairs system. The authors also discussed problems and gaps of the current national legislation. The basis of the research includes general research methods based on the principles of objectivity, systematicity, induction, deduction, and others. As the result of the research, the authors outline problems that arise in the process of arranging activities of internal affairs agencies aimed at execution of their powers in the sphere of property protection. The authors also offer relevant solutions and emphasize the need to create police subdivisions that would be responsible for the aforesaid range of issues. In particular, they prove the need to create a subdivision of the Main Directorate for Countering Property Crime as part of the central office of the Ministry of Internal Affairs of Russia and to make associated amendments in the Decree of the President of Russia No. 218 of March 1, 2011 'Issues of the Ministry of Internal Affairs of the Russian Federation'. The authors also stress out the need to include a list of property crimes into The Instruction on Single Record of Crimes. The conclusions and suggestions made by the author may be used to improve the activity of internal affairs in a developing society and government.