What types of property are there?
There are many types of property, including:
- Real property: This includes land and any structures that are permanently attached to it, such as houses, buildings, and other fixtures.
- Personal property: This includes movable items that you own, such as furniture, jewelry, and vehicles.
- Tangible property: This refers to physical assets that you can touch and feel, such as real estate, vehicles, and machinery.
- Intangible property: This refers to assets that don’t have a physical form, such as patents, copyrights, trademarks, and other forms of intellectual property.
- Public property: This includes property that is owned by the government, such as parks, roads, and government buildings.
- Private property: This includes property that is owned by individuals or businesses, such as homes, businesses, and personal belongings.
- Real estate: This refers specifically to land and any structures on it, such as houses or commercial buildings.
- Personal belongings: This refers to items that you own and keep for personal use, such as clothing, furniture, and electronics.
- Investment property: This refers to property that is purchased with the intention of generating income or appreciation, such as rental properties or commercial real estate.
- Community property: This is a legal term used in some states that refers to property that is jointly owned by a married couple.