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This property enables you to obtain the selected text in the control, including the RTF formatting codes. You can use this property to copy text from your control, complete with formatting, and paste the text in other applications that accept RTF formatted text, such as Microsoft Word and Windows WordPad. To get the selected text, without RTF formatting codes, use the TextBoxBase.SelectedText property.
If no text is currently selected, the text specified in this property is inserted at the insertion point. If text is selected, any text assigned to this property replaces the selected text.