The question provides an assertion and reasoning related to the conception of property. Let's analyze both parts to determine the correct relationship between them and the correct answer.

1. Assertion (A): "Based on European times of social organisation, the concept of property has been established."
   • This statement explains that the property concept we know today is influenced by European social structures of historical times, particularly feudalism. Feudal Europe was characterized by a hierarchical system where land was the main source of wealth and power, leading to established property rights and hierarchies.
2. Reason (R): "This is based on colonialization."
   • The statement suggests that colonization is the basis for the property concept. Colonization indeed influenced many societal structures worldwide, spreading European notions of law and property.
   • However, while colonization spread European property concepts globally, it is not the direct reason for the establishment of property concepts in European social organization.
3. Analysis of Statements:
   • Both the Assertion (A) and Reason (R) are true as individual statements.
   • However, Reason (R) does not directly explain why Assertion (A) is true. The concept of property in European social organization was formed before the era of colonialization, influenced by internal factors like feudalism, rather than colonization.
4. Conclusion:
   • The correct answer is that both (A) and (R) are true, but (R) is not the right explanation of (A).
   • This corresponds to the option: "(A) and (R) are true but (R) is not the right explanation of (A)."