diff --git a/doc/source/release.rst b/doc/source/release.rst
index 62ca11b6cef0b..b3fb032493a18 100644
--- a/doc/source/release.rst
+++ b/doc/source/release.rst
@@ -287,6 +287,7 @@ See :ref:`Internal Refactoring<whatsnew_0130.refactoring>`
 - Refactor of Series arithmetic with time-like objects (datetime/timedelta/time
   etc.) into a separate, cleaned up wrapper class. (:issue:`4613`)
 - Complex compat for ``Series`` with ``ndarray``. (:issue:`4819`)
+- Removed unnecessary ``rwproperty`` from codebase in favor of builtin property. (:issue:`4843`)
 
 Experimental Features
 ~~~~~~~~~~~~~~~~~~~~~
diff --git a/pandas/core/internals.py b/pandas/core/internals.py
index e22202c65c140..c265d1590af95 100644
--- a/pandas/core/internals.py
+++ b/pandas/core/internals.py
@@ -24,7 +24,6 @@
 from pandas.tslib import Timestamp
 from pandas import compat
 from pandas.compat import range, lrange, lmap, callable, map, zip
-from pandas.util import rwproperty
 
 
 class Block(PandasObject):
@@ -1450,22 +1449,22 @@ def shape(self):
     def itemsize(self):
         return self.dtype.itemsize
 
-    @rwproperty.getproperty
+    @property
     def fill_value(self):
         return self.values.fill_value
 
-    @rwproperty.setproperty
+    @fill_value.setter
     def fill_value(self, v):
         # we may need to upcast our fill to match our dtype
         if issubclass(self.dtype.type, np.floating):
             v = float(v)
         self.values.fill_value = v
 
-    @rwproperty.getproperty
+    @property
     def sp_values(self):
         return self.values.sp_values
 
-    @rwproperty.setproperty
+    @sp_values.setter
     def sp_values(self, v):
         # reset the sparse values
         self.values = SparseArray(
diff --git a/pandas/core/series.py b/pandas/core/series.py
index 7d3cce8c80f72..893483f0f2636 100644
--- a/pandas/core/series.py
+++ b/pandas/core/series.py
@@ -37,7 +37,6 @@
 from pandas import compat
 from pandas.util.terminal import get_terminal_size
 from pandas.compat import zip, lzip, u, OrderedDict
-from pandas.util import rwproperty
 
 import pandas.core.array as pa
 
@@ -797,19 +796,19 @@ def __contains__(self, key):
         return key in self.index
 
     # complex
-    @rwproperty.getproperty
+    @property
     def real(self):
         return self.values.real
 
-    @rwproperty.setproperty
+    @real.setter
     def real(self, v):
         self.values.real = v
 
-    @rwproperty.getproperty
+    @property
     def imag(self):
         return self.values.imag
 
-    @rwproperty.setproperty
+    @imag.setter
     def imag(self, v):
         self.values.imag = v
 
diff --git a/pandas/sparse/series.py b/pandas/sparse/series.py
index 21a054e6fe1a3..537b88db3c1f0 100644
--- a/pandas/sparse/series.py
+++ b/pandas/sparse/series.py
@@ -21,7 +21,6 @@
 import pandas.index as _index
 
 from pandas import compat
-from pandas.util import rwproperty
 
 from pandas.sparse.array import (make_sparse, _sparse_array_op, SparseArray)
 from pandas._sparse import BlockIndex, IntIndex
@@ -213,11 +212,11 @@ def get_values(self):
     def block(self):
         return self._data._block
 
-    @rwproperty.getproperty
+    @property
     def fill_value(self):
         return self.block.fill_value
 
-    @rwproperty.setproperty
+    @fill_value.setter
     def fill_value(self, v):
         self.block.fill_value = v
 
diff --git a/pandas/util/rwproperty.py b/pandas/util/rwproperty.py
deleted file mode 100644
index 2d0dada68cc0e..0000000000000
--- a/pandas/util/rwproperty.py
+++ /dev/null
@@ -1,75 +0,0 @@
-# Read & write properties
-#
-# Copyright (c) 2006 by Philipp "philiKON" von Weitershausen
-#                       philikon@philikon.de
-#
-# Freely distributable under the terms of the Zope Public License, v2.1.
-#
-# See rwproperty.txt for detailed explanations
-#
-import sys
-
-__all__ = ['getproperty', 'setproperty', 'delproperty']
-
-class rwproperty(object):
-
-    def __new__(cls, func):
-        name = func.__name__
-
-        # ugly, but common hack
-        frame = sys._getframe(1)
-        locals = frame.f_locals
-
-        if name not in locals:
-            return cls.createProperty(func)
-
-        oldprop = locals[name]
-        if isinstance(oldprop, property):
-            return cls.enhanceProperty(oldprop, func)
-
-        raise TypeError("read & write properties cannot be mixed with "
-                        "other attributes except regular property objects.")
-
-    # this might not be particularly elegant, but it's easy on the eyes
-
-    @staticmethod
-    def createProperty(func):
-        raise NotImplementedError
-
-    @staticmethod
-    def enhanceProperty(oldprop, func):
-        raise NotImplementedError
-
-class getproperty(rwproperty):
-
-    @staticmethod
-    def createProperty(func):
-        return property(func)
-
-    @staticmethod
-    def enhanceProperty(oldprop, func):
-        return property(func, oldprop.fset, oldprop.fdel)
-
-class setproperty(rwproperty):
-
-    @staticmethod
-    def createProperty(func):
-        return property(None, func)
-
-    @staticmethod
-    def enhanceProperty(oldprop, func):
-        return property(oldprop.fget, func, oldprop.fdel)
-
-class delproperty(rwproperty):
-
-    @staticmethod
-    def createProperty(func):
-        return property(None, None, func)
-
-    @staticmethod
-    def enhanceProperty(oldprop, func):
-        return property(oldprop.fget, oldprop.fset, func)
-
-if __name__ == "__main__":
-    import doctest
-    doctest.testfile('rwproperty.txt')