Property is a legal term, while assets is an accounting term.
Only persons (individuals or corporate persons) can have "property".
But a business, a store, an undertaking etc. may have "assets", regardless of having personality in terms of law. It may have its corporate personality or just be a part or a branch of a "person". In either case, it has its own assets, but it may be incapable of having "property".
Secondly, in daily language the word "property" first refers to "real property" and therefore sounds even more different than "assets". However, "personal property" and "intellectual property" are also included in the term "property" in technical view of the law.
So, the most remarkable difference between the two terms is the "owner", not the content.
Only persons (individuals or corporate persons) can have "property".
But a business, a store, an undertaking etc. may have "assets", regardless of having personality in terms of law. It may have its corporate personality or just be a part or a branch of a "person". In either case, it has its own assets, but it may be incapable of having "property".
Secondly, in daily language the word "property" first refers to "real property" and therefore sounds even more different than "assets". However, "personal property" and "intellectual property" are also included in the term "property" in technical view of the law.
So, the most remarkable difference between the two terms is the "owner", not the content.
