Definition of "Fixture"
A fixed asset whose utility is derived from its physical attachment to a property and which usually cannot value or damage. A fixture, under the terms of a lease or other agreement, can be detached.
Popular Real Estate Terms
A lease requiring tenants to pay all utilities, insurance, taxes, and maintenance costs. ...
Condensed appraisal report covering the major items. ...
Time period for which one expects to keep property such as a real estate investment. ...
Individual who enjoy a freehold land right. ...
Provision in an agreement in which its renewal is a matter of course at the end of its initial term. ...
Significant elevation of land. Narrow upward strip. Connection of edges between different sloping surfaces. ...
Holding pool of mortgages. It is marketed as a tax exempt mortgage backed security for investors. ...
Impeding and restricting people in various activities based on their race, ethnic reasons, or religion now goes against US laws in effect. In the past, especially in the 1960s, ...
Basis for the valuation of property acquired from a decedent for tax purposes. The unified transfer tax in 1976 provides for the valuation of property to be the adjusted basis immediately ...
Comments for Fixture
which one of these is not a fixture? land, shrub, tree swimming pool
Dec 25, 2018 21:10:02Land is real property, obviously. You can't take the land with you when you move.
Jan 09, 2019 04:28:46Shrubs and trees, since they are attached to the land by roots, are fixtures.
Swimming pools that are not fixed in the ground are NOT fixtures. So, even if it is well integrated into the property, like a jacuzzi or a prefab swimming pool, that is personal property. Trade fixtures are also not true fixtures.
Have a question or comment?
We're here to help.