Just noticed both these terms floating around relating to commerical photo work, seemingly interchangably...
The question is : I realise the importance of these for commercial work, but are these for different situations ?
Joined May 2008
Canon XTi, Tamron 17-50, www.ghowardphoto.com
Joined May 2007
A property release is not the same as a model release (if that's what you're asking). They are both similar, but deal with different things (ie: property, model).
GIVIN' GOOD KARMA
Joined Jun 2007
Location: South Dakota
Here is a pretty good breakdown of property and model releases. This is from the ASMP website, so it is somewhat geared towards media photographers.