fixture
Table of Contents
Fixture
A fixture is an item of personal property that has become real property by being permanently attached to land or a building.
Key Characteristics
- Originally personal property
- Becomes real property when attached
- Transfers with the property unless excluded
- Commonly tested using the MARIA test
MARIA Test
- Method of attachment
- Adaptability to the property
- Relationship of the parties
- Intention of the parties
- Agreement of the parties
(Intention is the most important factor.)
Trade Fixtures
- Fixtures installed by a tenant for business use
- Considered personal property
- Tenant may remove them if no damage is caused
Fixtures vs Personal Property
- Fixture
- Permanently attached
- Transfers with real property
- Personal Property
- Movable
- Does not transfer unless included
Exam Tip
- When in doubt, fixtures transfer
- Always check the purchase agreement
fixture.txt · Last modified: by reidjs
