Advertisement

Intangible Personal Property

What Does Intangible Personal Property Mean?

Intangible property encompasses anything that has no physical substance but that a person or corporation can have or transfer ownership of. This excludes tangible properties such as real estate (land, buildings, fixtures) and personal property (ships, automobiles, tools).

It is also sometimes referred to as incorporeal property.

Advertisement

Insuranceopedia Explains Intangible Personal Property

Intangible personal property is essentially property that is not physical and does not hold any intrinsic value. It is simply representative or evidence of value. It does, however, usually have a quantifiable dollar value.

Examples of intangible property include:

  • Securities (both public and private)
  • Copyrights
  • Brand identities
  • Installment obligations
  • Life insurance and annuity contracts
  • Royalties
  • Patents
  • Personal service contracts
  • Partnership interests
Advertisement

Synonyms

Incorporeal Property

Share this Term

  • Facebook
  • LinkedIn
  • Twitter

Related Reading

Tags

InsurancePersonal PropertyPersonal LinesPersonalCommercial Property

Trending Articles

Go back to top