Tangible Property | Propertylogy

Tangible Property

By on November 25, 2018

In real estate, when tangible property is mentioned, it can refer to physical real property plus tangible personal property or either one of the two.

Real property refers to buildings, houses, apartments, land, etc. Basically any real estate asset that has a physical presence.

Personal property refers to things such as furniture, vehicles, personal belongings, ,etc. Basically personal items owned by someone.

It is important to be  able to property differentiate between tangible and intangible property. Especially when drafting contracts.

As physical properties can touched and seen, it is easier to appreciate it’s value.

However, as intangible property like goodwill and easements have no physical presence, their values can be hard to contemplate.

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