GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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26% - Moderately

Tangible Personal Property


Synonyms:concrete equity, solid assets, verifiable personal property
Acronyms &
abbreviations:
TPP
Filed Under: financial-banking
Tags: taxes
 

Definition of tangible personal property (TPP)

tangible personal property (TPP)
1. Assets other than real estate that physically exist. Business equipment and vehicles are tangible personal property. Assets such as stock certificates and franchises only represent value and are therefore intangible property.

Related Terms and Acronyms:

  • franchise   The right to sell products or services under a corporate name or trade mark (established by someone else). This right is usually purchased for cash in addition to a royalty fee on, or a percentage of, all sales.
  • intangible asset   Non-physical resources or rights to other assets. Patents, goodwill, permits and computer programs are examples of intangible assets.
  • intangible property   Property that does not have value itself, but represents something else. Stocks, bonds and franchises are examples of intangible property. Business furniture and equipment are examples of tangible personal property.
  • personal property (PP)   Property that is movable and not permanently attached to a dwelling or structure.
  • tangible personal property memorandum (TPPM)

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