I have two shapefiles, one has points where people divert water from rivers, the other has polygons of land ownership. I would like to add a field in the attribute table of the points shapefile which lists which land ownership polygons each point overlaps with.
Add a field to your point features "Ownership".
Execute 'spatial join' from the toolbox.
Target features are the points, join features are the polygons.
In the field map, right click on "Ownership" field and select 'add input field'. Select the ownership field from your polygon features.
You will get an output feature class of the points with the polygon ownership attribute included.