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Simple English definitions for legal terms
tangible property
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A quick definition of tangible property:
Term: Tangible Property
Definition: Tangible property refers to physical things that can be touched and seen, like toys, clothes, and furniture. It is different from things like ideas or inventions that cannot be touched, which are called "incorporeal" assets. Another word for tangible property is "personalty."
A more thorough explanation:
Tangible property refers to physical objects that can be touched and felt, such as furniture, cars, and clothing. It is different from intangible assets like patents, copyrights, and trademarks.
- A house
- A car
- A computer
- A piece of jewelry
These examples illustrate tangible property because they are all physical objects that can be seen and touched.