Legal Definition of Tangible personal property: 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 | Need to understand the legal definition of tangible personal property? Discover what falls under this category, from furniture to jewelry and more. Learn why understanding this definition is essential for valuing assets, complying with tax laws, and making informed business decisions. Find out more here