What is true about personal property?

Personal property refers to movable assets that are not attached to land or buildings, distinguishing it from real property, which includes real estate and immovable structures. The statement about personal property being considered intangible assets is correct because personal property can include both tangible items, such as furniture and vehicles, and intangible assets, such as stocks, bonds, and copyrights.

Intangible personal property is notable because it does not have a physical presence but still holds value. This encompasses assets that can be owned and traded but are not tied to a specific physical location. Recognizing both tangible and intangible forms of personal property is crucial for understanding the wider scope of property ownership and financial interests.

In contrast, personal property is not limited to real estate or attached structures, nor is it inherently fixed and immovable, which is characteristic of real property. Therefore, the focus on intangible aspects further highlights the diverse nature of personal property ownership.