In this clip I put a number of things together. Assets is another word for real property and personal property. The thing that they both have in common is it means things that you own to a limited extent and provided you do what is required.
In this clip I make the link. I use the example of a motor vehicle how you can call it yours but in reality, the government has ultimate jurisdiction over it.
Also the clip before this clip says something at the end about this topic.