Classification of property
There are two types of property likes:
- Movable
- Immovable
Immovable properties – These are the types of assets that cannot be shifted without destroying or altering it. In Romano-Germanic law immovable property also considers as real properties. The examples of these kind of assets consider land, buildings, fisheries, etc.
Movable properties – The objects/assets that moves from one place to another with ease. In civic law systems movable properties also calls as personal properties.
There are varieties of movable properties –
Tangible property – properties that moves, touches and felt. Example includes ornaments, gadgets, furniture, etc.
Intangible properties – can’t literally move, touches and felt but considers movable because of their nature. Examples include securities, bonds, etc.
