Which type of personal property has a physical existence?

The correct answer is tangible personal property. This type of property has a physical existence, meaning it can be seen, touched, and physically held. Examples include furniture, vehicles, jewelry, and equipment. Tangible personal property is distinct from intangible property, which represents non-physical assets, such as patents, copyrights, stocks, and bonds.

Real property refers specifically to land and anything permanently attached to it, like buildings, and does not fit the definition of personal property. Liquid property, though not commonly categorized in legal definitions of property types, generally refers to assets that can be quickly converted into cash. Therefore, the clear distinction lies within the definition of tangible personal property as having a physical presence.