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Law. the malicious burning of another’s house or property, or in some statutes, the burning of one’s own house or property, as to collect insurance.
Contemporary Examples

But no one went through with the arson threats that were bandied about back then, says Cummins.
Cleveland Wants to Burn Down Ariel Castro’s House. Should It Be? Christine Pelisek May 12, 2013

Parker said true serial arsonists are relatively rare, and that most arson crimes are for financial gain or fraud.
What’s Driving L.A. Serial Arsonist to Set Fires? Christine Pelisek January 1, 2012

Klansmen were implicated in the arson of 30 black churches in Mississippi.
When the Right to Vote Wasn’t a Right Scott Porch June 22, 2014

He was booked for arson of property and is being held in lieu of $50,000 bail.
Los Angeles Fires: Officials Race to Identify the Arsonist Christine Pelisek December 30, 2011

In the late 1940s, he writes, there was “one racially motivated bombing or arson” every twenty days.
How We Built the Ghettos Jamelle Bouie March 12, 2014

Historical Examples

But to-day they are only names by which may be characterized certain works of Russian arson.
Behind the Scenes in Warring Germany Edward Lyell Fox

Well, I may tell you that I have a warrant to arrest him on a charge of arson.
The Hunted Outlaw Anonymous

“I expect they’ve issued a warrant for Niven on a charge of conspiracy or arson, and the boys have heard of it,” he said.
The Mistress of Bonaventure Harold Bindloss

Grave suspicions of arson are entertained, but up to the present no arrest has been made.
The Freelands John Galsworthy

I would wear forever on my conscience the white rose of theft and the red rose of arson.
And Even Now Max Beerbohm

noun
(criminal law) the act of intentionally or recklessly setting fire to another’s property or to one’s own property for some improper reason
n.

1670s, from Anglo-French arsoun (late 13c.), Old French arsion, from Late Latin arsionem (nominative arsio) “a burning,” noun of action from past participle stem of Latin ardere “to burn,” from PIE root *as- “to burn, glow” (see ash (n.1)). The Old English term was bærnet, literally “burning;” and Coke has indictment of burning (1640).