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human
eli5 the Difference between Asset and Property

Hi everyone,

Can someone please explain to me the difference between these two? I thought Asset would comprise Property but then I noticed property is split into tangible and intangible properties. I was thinking property was part of tangible assets but now I'm confused.

Thank you in advance!
gpt
A tangible asset is something you can see and feel.   Property you own is a tangible asset.  Intangible assets are something you cannot see.   An example of an intangible asset would be where you helped someone and they owe you a favour, this is sometimes referred to as goodwill.   Please note the definition of what is tangible or intangible can be different depending on circumstance, but owned property is always tangible.