Intangible Personal Property

What Does Intangible Personal Property Mean?

Intangible property refers to anything that lacks physical substance but can be owned or transferred by a person or corporation. This category excludes tangible property, such as real estate (land, buildings, fixtures), and personal property (ships, automobiles, tools).

It is also sometimes referred to as incorporeal property.

Insuranceopedia Explains Intangible Personal Property

Intangible personal property is essentially property that is not physical and does not have intrinsic value. Instead, it represents or serves as evidence of value. Although it lacks physical form, intangible property typically holds 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