Intangible property

Intangible property: Property that represents only real value (i.e. bank accounts or promissory notes).
Irrevocable trust: A trust that cannot be changed after it has been established.
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intangible property
n. items such as stock in a company which represent value but are not actual, tangible objects.

Intangible property
Definition
: property (as a stock certificate or professional license) that derives value not from its intrinsic physical nature but from what it represents
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Incorporeal hereditament: Intangible property rights which may be inherited, such as easements and profits à prendre.

In some jurisdictions a lease of land (e.g. a flat or apartment) is regarded as intangible property in the same way that copyright is.

An estate consists of personal property (car, household items, and other tangible items), real property and intangible property, such as stock certificates and bank accounts, owned in the individual name of a person at the time of the person's death.

res: a thing; tangible or intangible property.
res judicata: literally, "the thing has been decided".

There has been discussion and criticism of the application and enforcement of that maxim, but it is so fixed in the common law of this country and of England, in so far as it relates to intangible property, including choses in action, ...

Tangible Property: Property that has physical substance and can be touched. Anything other than real estate or money, including furniture, cars, jewelry and china. Intangible property (example: a checking account) lacks this physical quality.

Governments may also condemn personal property, such as supplies for the military in wartime or franchises. Governments can even condemn intangible property such as contract rights, patents, trade secrets, and copyrights.

Examples include furniture, cars, jewelry and artwork. However, cash and checking accounts are not tangible personal property. The law is unsettled as to whether computer data is tangible personal property. Compare intangible property.

See also: Property, State, Tangible property, Information, Person