Fixtures Flashcards
What is a fixture?
Tangible personal property that is attached to real property in a manner that it is treated as part of the real property.
Who can make improvements to the real property?
A feesimple owner.
All other estate owners need permission.
Can the fixture be removed by the buyer?
The buyer of real property is generally entitled to chattel, unless the seller reserves in the contract the right to keep chattel.
Can life tenants and other tenets remove fixtures?
The presumption is that they can move fixtures unless doing so would permanently damage the property.
Can trespassers remove fixtures or improvements from the property?
Old rule: trespassers could never remove any fixture or improvement that they installed.
New Rule: A trespasser can remove in improvement, or at least recover the value add it to the property, so long as they acted in good faith.