Fixtures

Question 1

A __________ is something that was personal property that has become affixed to the real property.

Answer 1

Fixture

Question 2

A fixture is something that was personal property that has become _______ to the ________ __________.

Answer 2

affixed
real property

Question 3

You go to Lowes and buy a light fixture or a ceiling fan and it got attached to your house, that is now a _________.

Answer 3

fixture

Question 4

Furnace

Answer 4

Fixture

Question 5

H-VAC Unit

Answer 5

Fixture

Question 6

Fixture filing is unique because it gets filed at the _______ as opposed to the state level where a financing statement would be filed.

Answer 6

county

Question 7

Refrigerator connected to the water line

Answer 7

Fixture

Question 8

In differentiating among
1.
2.
3.
courts look to three tests.

Answer 8

1. goods
2. fixtures
3. ordinary building materials

Question 9

1. Regular goods are subject to what type of filing?

Answer 9

UCC filing

Question 10

2. Fixtures are subject to what type of filing?

Answer 10

UCC filings and Realty filings

Question 11

3. Building materials subject to what type of filing?

Answer 11

Realty Filing/

Question 12

To figure out which one of the categories something fits into, the courts look at three tests.
1. ?
2.
3.

Answer 12

1. Is it actually attached to the real property?

Question 13

To figure out which one of the categories something fits into, the courts look at three tests.
1.
2. ?
3.

Answer 13

2. Have you purposefully attached because it is beneficial to the way you are going to use the property?

Question 14

To figure out which one of the categories something fits into, the courts look at three tests.
1.
2.
3. ?

Answer 14

3. Did you really intend for this thing to be permanently stuck to this property?

Question 15

The furnace that heats the building and water.

Answer 15

Fixture.

Question 16

The furnace you could buy from Bob’s heating and air conditioning store, but it is going to get attached to the property.

Answer 16

Fixture

Question 17

The pipes that carry the hot water through the wall.

Answer 17

Building materials

Question 18

A couch that has been sitting in the living room for 20 years.

Answer 18

Goods.

I tend to think that is just goods because unless we bolted it to the floor it is easily moveable and just ordinary goods.

Question 19

A lavish designer bathtub, handcrafted and carefully set in the corner.

Answer 19

Fixture

Case said it was a fixture and not ordinary building materials because it wasn’t the same type of tub you would buy at a Lowes; it was super fancy and ornate, and the court said because it was so nice it couldn’t be ordinary building materials. They said it was a fixture as well.

Question 20

9-334(D) - is what we call the ___________ rule.

Answer 20

PMSI

Question 21

PMSI stands for what?

Answer 21

Purchase Money Security Interest

Question 22

9-334(__) is trumped by 9-334(___).

Answer 22

9-334(d) is trumped by 9-334(h)

Question 23

Step 1: PMSI Rule

what does this refer to?

Answer 23

Who is going to win if you do the things?

Question 24

Under the PMSI Rule: The _______ ______ wins if they have PMSI and Fixture Filing within 20 days of fixture being installed.

Answer 24

secured party

Question 25

Under the PMSI Rule: The secured party wins if they have ______ and ______ _______ within ___ days of fixture being installed.

Answer 25

PMSI

Fixture Filing

20

Question 26

The PMSI Rule does not work with ____ __________ when the secured party is fighting with real estate encumbrancer that is financing the construction.

Answer 26

new construction