Abstract: The fundamental assets of the God-Association in Wuyuan County from Qing Dynasty to the Republic of China was land，which could be rented，bought，sold，inherited and mortgaged. The land rights of the God-Association could be divided into two parts，usage rights and proprietary rights. Land could belong to four，five，six，or even more landowners in the operation of assets of God-Association，because land could been divided multiple parts. Along with a large number of God-Associations established，small farmers could flexibly deal with their property by accumulating modest amounts of capital on their investment in God-Association，which invested in land or other real estate. The fragmentation of the landholdings，taxation of land and the refinement of land ownership were three mutually supportive ongoing processes from the Qing Dynasty to the Republic of China.