What is the legal definition of Tangible personal property?
In the legal context, Tangible personal property means All property, except land and buildings, that can be physically touched, such as furniture, jewelry, cars and clothing. Property such as stocks and bank accounts are not included because what can be touched in connection with these items is merely a piece of paper that represents the actual property. In summary of all property types, “real property” is land and buildings; “personal property” is everything else; “tangible personal property” is an item that can be touched.
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