Tangible property refers to physical items that can be touched and seen. This includes objects like furniture, vehicles, and electronics. These items have a definite value and can be bought, sold, or owned. Tangible property is important in everyday life, as it encompasses the things we use and interact with regularly. In contrast to intangible property, which includes things like patents or copyrights, tangible property is straightforward and concrete. When you purchase a house or a computer, you are acquiring tangible property that you can physically possess. Understanding tangible property is essential for managing personal assets and making informed financial decisions.