The aims of this research were to determine the effect of the managerial ownership, institutional ownership, dividend policy, and profitability on debt policy at a property and real estate company registered on the Indonesia Stock Exchange during the period 2012 until 2016. This research used purposive sampling method which is determining method of the number of random sample taken based on some criteria, and the sample which included criteria is 52 property and real estate company registered on the Indonesia Stock Exchange during the period 2012 until 2016. The data collected using purposive sampling method. The data was obtained from the Indonesian Capital Market Directory (ICMD) and www.idx.co.id. Data analysis techniques was used as analysis double regression technique. The result of research show that managerial ownership has negative effect and significant on debt policy on the property and real estate companies listed on the Indonesia Stock Exchange, institutional ownership has negative effect and significant on debt policy on the property and real estate companies listed on the Indonesia Stock Exchange, dividend policy has positive effect and significant on debt policy on the property and real estate companies listed on the Indonesia Stock Exchange, profitability has negative effect and not significant on debt policy on the property and real estate companies listed on the Indonesia Stock Exchange, assets structure has negative effect and significant on debt policy on the property and real estate companies listed on the Indonesia Stock Exchange.