What is an example of Intangible Personal Property?

Intangible personal property refers to assets that do not have a physical presence and cannot be touched or physically handled. Stocks are a prime example of intangible personal property because they represent ownership in a company and have value, but they do not exist in a physical form. Instead, they exist as financial instruments or agreements that denote the shareholder's interest in a corporation.

In contrast, real estate properties, cars, and physical artwork are all tangible personal properties. They are assets you can physically touch, see, and interact with directly, which makes them distinct from intangible assets like stocks. Thus, understanding the distinction between tangible and intangible personal property is crucial in various contexts, including taxation and appraisal practices.