|
Author: Martin Lukac Article source: http://www.swlearning.com/. Used with author's permission.
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
The Gift of Envy
Do you envy that person who has a better job or more success than you do? So does the author, and she's discovered what a beneficial tool envy can be.
How to build an energy-efficient home
There are just a few important things to know and to remember, when building an energy-efficient home. These are; insulation, air intrusion, thermal mass, and ...
How To Cut the Clutter and Win Readers
Cut the clutter in your writing and you'll be rewarded with better pacing, a cleaner style and much happier readers. (You could also be rewarded with the best p...
PowerPoint Presentations: How to Use This Tool More Effectively
Many of us use PowerPoint to convey a message to both small and large groups. Too often we see "death by powerpoint" in the corporate environment where people d...
What Every Service Provider Ought To Know About Writing A Business Plan
This is what successful service providers do when writing a business plan that captures the attention of prospective investors…
Real Estate for Beginners: Residential Property Taxes
Whenever you own a piece of land, you will be taxed for it. Whether it is commercial property or residential property, there is still a tax to pay, whether it i...
What Is Success Anyway?
Success is a journey. When we undertake this journey, we feel that our life has meaning. Anyone can become successful at anything if they persist through all ...
Trade Show Tactics Revealed
Being part of a trade show gives small business a chance to experience economies of scale and to mix around with the big guys. This may also be the most stressf...
Homeopathy: A Natural Health 101 Article
No area of "natural" health is more divisive than homeopathy. In this article we'll examine the basics of homeopathy, the therapy that shouldn't work but has m...
The Future for Independent Record Labels
Small independent record labels are facing a different fight today to obtain a share of the music industry. The best possible means in which small labels were ...
How MLM Leads Brokers Compare: A Review of 20 Websites
To survive in the changing world of direct selling or network marketing, you know how critical it is that you maintain a consistent flow of leads into your busi...
What is Homeopathy?
Homeopathy is a non-toxic system of medicine used to treat a wide variety of health concerns. It is based on the Law of Similars and potentization. Basically, ...
Discipline in Trading and Investing
A person's self image must be separated from his trading or his investing. When personal self-worth gets tangled up with your business activities, it not only w...
7 Tricks for More Holiday Web Sales
"Black Friday" has come and gone, and your in-box is
practically overflowing with new holiday orders, right? Or maybe not. Here are seven things you can do RIG...
Theres Only One Way to Achieve Your Goal
If you're looking to lose weight, build muscle, get fit or whatever you goal may be, I'd like you to go in a straight line towards that goal, whatever it is.
Increase Internet ROI: Why and How to Measure and Improve Pay Per Click ROI
I just read the disturbing results of a joint study on the performance of search marketing firms. Fewer than 40% of search engine marketers are evaluated on RO...
Real Estate Investing Financing Truths - Part 2
Simple Real Estate Investing formulas to make the most of your real estate investments in today's market. Take an inside look at 'traditional' and 'creative' r...
Life Lessons I Learned from My Cat
My precious little cat is dying of liver cancer but her legacy lives on. This sweet soul taught me important life lessons: patience; breathing and being; the pr...
A Lesson In Email: The Money Is In The List... With The Back-End Sales
Firstly, back-end sales is eMail Marketing at its best, so for this to work you need to already have a list of customers that have bought from you before. The...
Converting Print Advertising For Use On The Web - A How-To
Contrary to the beliefs of some, advertising for web and print are very different. Converting print ads for use on the web is very tricky. What has been very ...
Improve Your Dogs Health With a Natural Diet
It goes without saying that your dog needs suitable nutrition to remain healthy. Vets and pet food manufacturers often have differing views on appropriate nutri...
Tax Free Exchanges: Watch out for the New Residence Rules
Section 1031 was changed on October 22, 2004, respecting exchanges into property that later becomes your personal residence. New time periods are established.
How To Find a Lost Cat
Losing your cat is a worrying experience, use these 'How to find a lost cat' steps, and try to stay calm. Remember that most lost cats have not run away from ho...
Your Home is a Toxic Waste Dump!
Did you know that the household and beauty products that you purchase at your local store are unhealthy for your family? This is something that these companies...
|
Print this page