Common vs Personal Assets

COMMON ASSETS 

A common asset is something owned jointly by two or more people — often by family members, business partners, or members of a group.
Everyone who owns it has shared rights and sometimes shared responsibilities.

Examples:

• Office equipment shared by business partners

PERSONAL ASSETS

A personal asset is something that belongs to one individual only.

That person has full ownership, control, and responsibility for it.

Examples:

• An asset owned and controlled by one person only.