• Black Facebook Icon
  • Black LinkedIn Icon

© 2018 by Miller & Law, P.C.

October 7, 2016

Please reload

Recent Posts

A will is a simple estate planning tool that can be created in just a few hours, but many people still die without a will. For some, it was because th...

What Happens if you Die without a Will?

November 18, 2016

1/5
Please reload

Featured Posts

Tangible and Intangible Property

June 12, 2015

Tangible and Intangible Property

 

Property is an external thing that can be owned or possessed. Property can be divided into two categories: tangible and intangible. The word tangible refers to something that has a definable physical form that can be felt or touched. The word intangible refers to something that cannot be perceived by the senses.

 

Tangible Property

 

Tangible property consists of real property and personal property. Real property is property that does not move, such as land and the things that are attached to or built on that land.

 

Intangible Property

 

Intangible property consists of property that lacks a physical existence. Examples of intangible property include checking and savings accounts, options to buy or sell shares of stock, the goodwill of a business, a patent, and spousal love and affection.

 

Personal Property

 

Personal property is property that can be moved or any other tangible property that can be owned. Personal property is also called chattels. Chattels that are attached to the land and that cannot be removed without damaging the land are called fixtures. Examples of fixtures are built-in bookcases and ceiling fans.

Share on Facebook
Share on Twitter
Please reload

Follow Us