Tangible Personal Property

Tangible Personal Property refers to physical items that can be touched and moved, which belong to an individual or entity. This includes things like furniture, electronics, vehicles, jewelry, and equipment. Unlike intangible property (like stocks or patents), tangible personal property has a physical presence. It is important in legal, tax, and estate planning contexts, as it can be owned, bought, sold, or inherited. Understanding what constitutes tangible personal property helps in managing assets and fulfilling obligations related to ownership and transfer of these items.