Property

In this context, it is synonymous with “Asset,” meaning a tangible thing that can belong to someone, whether located in Canada or elsewhere. It can be a movable property, i.e., it can be moved, or immovable property, i.e., permanently fixed to the ground. Included among the properties are personal property, sums of money, goods, intellectual rights, legal claims, etc. We refer you to a slightly more detailed definition under the word “Asset” as the two are synonyms. The word “property” is more common in everyday speech, while “asset” is more commonly used in an accounting context. If you are involved in an insolvency case, you should not be surprised that both will be found in the documentation submitted by the trustee.