All property other than real property is considered to be personal property. We can further divide personal property into two categories tangible and in tangible property. Any property that can be touched and possesses some intrinsic value is considered tangible personal property. Examples of such property are furniture, jewelry, or automobiles. Conversely, property that cannot be touched and has no intrinsic value in and of itself is called intangible personal property.
Stocks are an example of in tangible personal property.
Even though the certificates themselves are tangible, stocks are considered intangible because the tangible certificates possess no intrinsic value. It is the intangible property ownership represented by the certificates that has value. Real property may be owned in a number of ways. The largest and most complete interest in real estate that one can own is called a fee simple estate or an estate in fee simple absolute. A fee simple estate is an interest in real property that first belongs to a person, and then to the heirs forever.