Stative verbs describe states of being rather than actions, and are never used in continuous tenses. Some common stative verbs include verbs showing emotions like 'like' and 'love', verbs showing possession like 'have' and 'own', verbs showing thought like 'know' and 'believe', verbs showing senses like 'see' and 'hear', and other verbs like 'fit' and 'require'. The document provides examples of using different types of stative verbs in sentences.