Assets are property that an individual, trust, company, or other entity owns. Assets may be real estate (land and buildings) or personal property. It may be titled or untitled, tangible or intangible.
Some common assets include:
- Cash
- Vehicles
- Real estate
- Precious metals
- Commodities
- Company inventory
- Stocks
- Bonds
- The cash value in a life insurance policy
- An annuity contract
- A business’s accounts receivables (A/R)
- A promissory note
- The right to live in a home rent-free
- The rights to a lien
- A judgment award
- A patent
- A copyright
- A license to use something
In other words, an asset is any right or property you can own, control, and/or benefit from.