Tangible properties in Hosakote, Bengaluru, can be broadly divided into two main categories: tangible real property (land and buildings) and tangible personal property (movable objects). Both are physical assets that can be seen and touched. The key legal difference is that tangible real property is immovable and its ownership is recorded in a public register, while tangible personal property is movable and its ownership is not publicly registered. Both types of tangible properties are a significant component of the wealth of individuals and businesses in the region, and both have their own specific rules for taxation, insurance, and legal transfer.
Tangible properties in Hosakote, Bengaluru, are also the primary form of collateral used to secure loans from the banking system. When a person takes a home loan, the tangible real property (the house) is mortgaged to the bank. When a business takes a loan to buy machinery, the tangible personal property (the machine) is hypothecated to the lender. The fact that these properties are tangible and have a resale value is what gives the lender the security they need to provide the loan. The entire credit system, which is the lifeblood of the economy, is therefore built on a foundation of tangible properties.
Tangible properties in Hosakote, Bengaluru, are also the assets that are most commonly the subject of a 'partition' suit in a court of law. When the members of a joint family are unable to agree on a peaceful division of the family's properties, one of the members can file a partition suit. The court will then adjudicate the dispute and will pass an order on how the tangible properties, both real and personal, should be divided among the legal heirs. This legal process is a very common feature of the property landscape, particularly for older, ancestral assets.