Property Types

Property Types of Property

Introduction to Property Types

The two kinds of property are real and personal. Real property, according to English legal tradition, is the land and anything firmly attached to it, such as buildings and the permanent fixtures of those buildings, and the minerals beneath the surface of the land. Personal property is anything that can be owned other than real property. Personal property can be divided into tangible and intangible property. Tangible property exists physically; an example is a book. Intangible personal property has no physical existence but nevertheless can be legally owned; an example is patent rights. Certain items, such as the atmosphere and the high seas, are viewed as neither real nor personal property.” (1)

Resources

Notes and References

• Information about Property Types in the Encarta Online Encyclopedia

Guide to Property Types