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DEFINITIONS OF PROPERTY

Personal Property: is any tangible object that can be moved: toys, jewelry, fine art, crops, chattel, furniture, yachts, weapons, starships, etc. In the British vernacular these are referred to simply as property and appraisers are known as valuers or surveyors of worth.

Real Property: is anything that cannot be moved: lots & plots, farms, houses, airports, ranches, buildings, etc.

Intellectual Property: is an intangible product of the intellect that has commercial value such as copyrighted material (©®TM) including literary or artistic works, and ideational property such as patents, appellations of origin (i.e. champagne), business methods, and industrial processes. Appraisal reports are intellectual property.

Public Property: is any real or personal property owned by a government entity.

Private Property: is any real or personal property owned by a non-government entity.