Fixtures

Fixtures, related to real estate, are items that were originally personal property but are now attached to the property itself. This becomes the toughest issue when tenants attach fixtures to a property. These fixtures may include shelves or anything that is immovable by law.

There are five tests of fixture:

1) Method of Attachment: Is it nailed, welded or bolted down? Or is it simple leaning against the building or hanging on the wall?

2) Adaptability: Is the item customized or can it be easily used in other building.? Wall-to-wall carpeting would be considered a fixture because it has been cut for a room of a particular size and shape, and the carpet is attached to a track strip that is nailed to the floor.

3) Relationship: Is relationship between tenant-landlord, a buyer-seller or borrower-lender.

4) Intension: is indicated by action or agreement of the parties, weather it be expressed ore merely implied.

5) Agreement: Court will also look to the existence of any agreements between the parties. For example: Is he item mentioned in the real estate listing or purchase contract?

Exception to Fixture rule:

There are certain items that remain personal property after they have been affixed to real property.

If you rent to a business: These items are called "trade fixtures". Example are shelves, counters, cash registers used by business but not sold to customers.

If you rent to an individual(s): Id tenant installs room dividers, shelves, it may or may not be viewed as personal property. In many cases fixtures may be removed by the tenant, provide that premises are not damaged.

Martin Lukac, represents, #1 Loans USA(http://www.1LoansUSA.com), a finance web-company specializing in real estate/mortgage market. We specialize in daily updates, rate predictions, mortgage rates and more: info@1LoansUSA.com

MORE RESOURCES:

ERA Pacesetter closes real estate business - Bizjournals.com

Learn to Profit from Real Estate - Even in Tough Markets - MarketWatch

Tokyo Replaces Shanghai as Best Asian City to Buy Real Estate - Bloomberg

Nokomis Real Estate Ventures LLC files bankruptcy petition - Bizjournals.com

Neuberger Berman Real Estate Securities Income Fund Inc. Announces ... - MarketWatch

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UPDATE 2-Sibir market value halves on real estate buy - Forbes

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/5i-0fd=Rurl=http://www.guardian.co.uk/business/2008/dec/03/sibir-russia-oil-property-tchigirinskicid=1277136024ei=IjY3SaS2KKLFmQfypKmwDwusg=AFQjCNE1xgitWpb70YacpDfdWlg79OAfrgimg src=http://news.google.com/news?imgefp=G0Z9onrcFO0Jimgurl=static.guim.co.uk/sys-images/Business/Pix/pictures/2008/12/03/sh4.jpg width=80 height=48 alt= border=1brfont size=-2guardian.co.uk/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/5-0fd=Rurl=http://www.forbes.com/afxnewslimited/feeds/afx/2008/12/03/afx5771724.htmlcid=1277136024ei=IjY3SaS2KKLFmQfypKmwDwusg=AFQjCNH4Lm0H4Uc7pGAlrIRAqowInKD3oQUPDATE 2-Sibir market value halves on breal estate/b buy/abrfont size=-1font color=#6f6f6fForbes,nbsp;NYnbsp;-/font nobr14 hours ago/nobr/fontbrfont size=-1Sibir had already outraged minority shareholders when it said in October it would buy some $157 million worth of breal estate/b from its key owner, b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/5-1fd=Rurl=http://www.reuters.com/article/rbssEnergyNews/idUSL364626620081203cid=1277136024ei=IjY3SaS2KKLFmQfypKmwDwusg=AFQjCNF_uv6772PB9zCf7LTukV13xRZ-4wUPDATE 1-Sibir shares sink 30 pct on breal estate/b buy/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/5-2fd=Rurl=http://en.rian.ru/business/20081203/118667008.htmlcid=1277136024ei=IjY3SaS2KKLFmQfypKmwDwusg=AFQjCNHM4xaCEmE0g92SAx6B1QqwC0zjFwSibir Energy to buy $340mln breal estate/b assets from developer - 2/a font size=-1 color=#6f6f6fnobrRIA Novosti/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/5-3fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601087%26sid%3DaS_Y7fzEKDYc%26refer%3Dhomecid=1277136024ei=IjY3SaS2KKLFmQfypKmwDwusg=AFQjCNE2LDbz7xr9ZRpkeGrjsZqCU51klgSibir Plunges 57% on Russian Billionaire ‘Bailout’ (Update4)/a font size=-1 color=#6f6f6fnobrBloomberg/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/5-4fd=Rurl=http://www.guardian.co.uk/business/2008/dec/03/sibir-russia-oil-property-tchigirinskicid=1277136024ei=IjY3SaS2KKLFmQfypKmwDwusg=AFQjCNE1xgitWpb70YacpDfdWlg79OAfrgnobrguardian.co.uk/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/5-5fd=Rurl=http://www.themoscowtimes.com/article/600/42/372867.htmcid=1277136024ei=IjY3SaS2KKLFmQfypKmwDwusg=AFQjCNGEIQ7isaLfJWu2JXJ1cv0jjXQgZgnobrThe Moscow Times/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277136024hl=ennobrall 85 news articles/nobr/a/font/div/font/td/tr/table

Icahn Sues Real Estate Company Over Debt - New York Times

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Whitehall Funds Lose Their Luster - Wall Street Journal

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/7-0fd=Rurl=http://online.wsj.com/article/SB122826598899374457.html%3Fmod%3Dgooglenews_wsjcid=1277094278ei=IjY3SaS2KKLFmQfypKmwDwusg=AFQjCNFgFdq_6g_T1H5zrRCUxcdVk5zJrgWhitehall Funds Lose Their Luster/abrfont size=-1font color=#6f6f6fWall Street Journalnbsp;-/font nobr20 hours ago/nobr/fontbrfont size=-1By ANTON TROIANOVSKI and LINGLING WEI Goldman Sachs Group Inc.#39;s Whitehall family of breal-estate/b funds is struggling with weak performance and potentially b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/7-1fd=Rurl=http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN0351371720081203cid=1277094278ei=IjY3SaS2KKLFmQfypKmwDwusg=AFQjCNEqGMIMWy7uiA4Jn7DCPjnhEyAUWwGoldman Whitehall head warned of firm#39;s exposure/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/7-2fd=Rurl=http://www.reuters.com/article/marketsNews/idUSBNG24933320081203cid=1277094278ei=IjY3SaS2KKLFmQfypKmwDwusg=AFQjCNEtpxzu48SqPZKsEM_hhiOU-oqPXAGoldman Whitehall funds hit by property slump-WSJ/a font size=-1 color=#6f6f6fnobrReuters/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1277094278hl=ennobrall 12 news articles/nobr/a/font/div/font/td/tr/table

Freedom Interactive Launches New Real Estate Vertical - Destin Log and Walton Log

Inland Real Estate Auctions, Inc. Sells Industrial Site in Seneca ... - MarketWatch

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