Friday, February 13, 2009

Real Estate Property Fixers


Fixtures are artificial improvements to the land or any of its buildings. A fixture is considered to be real property if that is how it is treated by the owners, if the attachment is considered permanent, and if the parties to any sale treat it as such. If there is any doubt as to what is a fixture and what is personal property, then any sales agreement should remove that doubt. Examples of ambiguous items are satellite dishes, carpeting, bookcases, and appliances.Trade fixtures are fixtures used in the conduct of a business, and thus, are considered the personal property of the business owner, even when the fixture is physically attached to the real estate. A vacating business tenant has the duty to remove all fixtures to his business, to restore the real estate to its original condition. Otherwise, the fixtures become part of the real estate by accession—they become a part of something that is already owned, the real estate

No comments:

Post a Comment