Asked by Raymond Shaquille on Jun 03, 2024
Verified
a. How do you distinguish between tangible and intangible property?
b. How do you distinguish between real and personal property?
Tangible Property
Physical assets that can be seen, touched, and valued, such as land, buildings, vehicles, and other items with physical presence.
Intangible Property
Refers to non-physical assets that hold value, such as intellectual property, trademarks, and copyrights.
Real Property
Land and anything permanently attached to it, such as buildings and trees.
- Distinguish between tangible and intangible property, along with their respective impacts within the realm of real property law.
Verified Answer
KM
Krystal MartinezJun 05, 2024
Final Answer :
a. Tangible property exists in a physical form, such as a home or a chair. Intangible property is property that does not exist in a physical form, such as the rights represented by a stock certificate or a promissory note.
b. Real property is land and all interests in it, as well as fixtures. Personal is every other thing or interest, such as a car, desk, or hat.
b. Real property is land and all interests in it, as well as fixtures. Personal is every other thing or interest, such as a car, desk, or hat.
Learning Objectives
- Distinguish between tangible and intangible property, along with their respective impacts within the realm of real property law.