Property

Anything that is owned by an individual or entity that can be used to the exclusion of others. Generally, property is divided into two categories: (1) real property, which is any interest in land or real estate; and (2) “personal property” which is everything else that can be the subject of ownership, generally including tangible and intangible assets. Examples of personal property include stocks, money, notes, patents and copyrights, as well as vehicles, furniture, boats, etc.