Propertytangible

Propertytangible refers to tangible property—the physical assets that can be touched and have material substance. In law, accounting, and insurance, the term is used to distinguish physical assets from intangible property, such as intellectual property, contractual rights, or digital assets.

Classification typically divides tangible property into real property and personal property. Real property includes land and buildings and is generally fixed in place. Personal tangible property encompasses movable items such as vehicles, furniture, equipment, and inventory. Chattel is a historical term for movable tangible property, while fixtures are items that become part of real property through attachment.

Ownership and transfer of tangible property are evidenced by title or possession. Transfers usually involve delivery of the physical item, with additional requirements or registrations where applicable. Tangible property can be subject to security interests, liens, or collateral arrangements. In many jurisdictions, tangible personal property is subject to sales or property taxes, and depreciation considerations apply for tax purposes, with different rules for real property versus personal property.

Valuation of tangible property relies on appraisal methods, replacement cost, or fair market value. In insurance, tangible property is insured against physical loss or damage, typically using replacement cost or actual cash value. Maintenance, risk management, and regular valuation are common practices to preserve or protect tangible assets.

See also: real property, personal property, movable property, intangible property, fixtures, chattel, lien, depreciation.