Types of Property

The law categorizes property into two basic types, real and personal.

Real property is things that cannot be moved.  This includes land, buildings, and other permanent structures.

Personal property is everything else.  Any movable item is potentially personal property.  This includes things like cash, securities, cars, furniture, water rights, and potato chips.

Intellectual property is a subset of personal property dealing with ownership interests in creations of the mind, like art and writings, and in some cases ideas. The creations themselves may be in tangible or intangible form.  This includes things like patents, copyrights, and trademarks. The principle ownership interest is an exclusive right to use or license the use of the creation.

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