jquery TypeError $element.prop is not a function

Has something to do with select2/js/Drupal.select2.js

When editing a node in admin I get the following js error:

TypeError: $element.prop is not a function (line 476) in Drupal.select2.js
elementTagName = $element.prop("tagName"),

Seems to me like this Drupal.select2.js is not compatible with 1.4 which is what drupal 7 core is using. If I set it to 1.9 for core (via jquery update) the error goes away and the admin node edit page renders perfectly.

I know it's counter intuitive, but because drupal core uses 1.4 can you fix it so that 1.4 also works. I need 1.4, so that views (and any unforeseen admin related modules) works properly.

Thanks.

Using Select2 - 7.x-1.0+6-dev