Legally, property other than land, including both tangible property and intangible property, is considered?

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02-08-2022
Social Studies

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Legally, property other than land, including both tangible property and intangible property, is considered?

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tripatsingh039 tripatsingh039 · Answer 1 · 2022-08-09T12:08:15-04:00

Legally, property other than land, including both tangible property and intangible property, is considered personal property.

Any mobile or intangible asset with a value that can be possessed by a person and isn't classified as real property. Personal property refers to consumer and non-capital products and services, whereas private property often refers to capital or the means of production. Stocks and bonds are examples of investment property that are categorized as capital assets. The entire personal property portfolio also counts as a capital asset.

There are three distinct categories of personal property: tangible, intangible, and listed. Anything that can be held and has a clear worth is considered tangible personal property, whereas anything that cannot be touched or held has intangible personal property.

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