CLASSIFICATION OF ASSETS UNDER CIVIL LAW

REAL AND PERSONAL PROPERTY

Legislation distinguishes between real property (immovables) and personal property (movables):

• Real property: Includes land and everything attached to it, either naturally (trees, springs) or artificially (buildings). Also considered real property are mines, hydrocarbon deposits, lakes, and watercourses.
• Personal property: Covers all that is not real property, including natural energies controlled by humans.

Within personal property, there are special categories such as registrable movables, which require public registration for legal protection and enforceability against third parties. Examples include:

• Motor vehicles (cars, motorcycles, trucks, tractors, self-propelled agricultural machinery)
• Watercraft (boats, ships, jet skis)
• Aircraft (planes, helicopters, gliders)

SPECIAL CLASSIFICATIONS

Beyond the primary distinction, civil law establishes additional relevant subcategories:

• Fungible things: Those that can be replaced by others of the same kind, quality, and quantity, usually determined by weight, number, or measure.
• Consumable things: Extinguished upon first use, such as food or fuel.
• Indivisible things: Cannot be divided without altering their essence, or whose indivisibility is established by law or agreement.

APPURTENANCES AND THEIR LEGAL TREATMENT

Appurtenances are personal property permanently intended to serve another principal asset, whether movable or immovable, without losing their individuality. For example, an irrigation system installed on a farm. Their designation can only be made by the owner or holder of a real right over the principal asset, and legal acts affecting the latter generally include the appurtenances unless otherwise agreed or subject to third-party rights.

NATURAL AND CIVIL FRUITS

Assets may generate natural and civil fruits.

• Natural fruits: Produced by an asset with or without human intervention, such as animal offspring, crops, or extracted minerals. Before separation, they form part of the principal asset, although they may be disposed of as future assets.
• Civil fruits: Rents and economic benefits derived from an asset, such as interest on capital or rental payments, acquired proportionally to the duration of the right.

ASSETS BY OWNERSHIP

Law also distinguishes assets based on ownership:

• State and public entity assets: Governed by the Constitution and special laws, including those belonging to municipalities, universities, and other state institutions.
• Private assets: Owned by natural persons or private legal entities, regulated by the Civil Code and complementary provisions.

In summary, the concept and classification of assets are not merely theoretical but have direct practical implications for commercial transactions, guarantees, inheritances, and the protection of property rights. Proper understanding prevents disputes and enables precise application of civil law.