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
When we’re talking about debt service, we refer to the amount of cash required to cover the debt’s repayment of both the interest and the principal for a certain period of time. ...
Agreement to transfer funds to a third party. ...
(1) Cash revenue from product sales or services rendered less cash expenses. It is different from accrual earnings. (2) The money available after deducting operating expenses and mortgage ...
A wall or roof which extends beyond a lower wall. ...
Document issued by a governmental agency permitting the recipient to do something. An example is a building permit to construct a structure. ...
Real estate business owned by one person having all the rights and obligations. ...
Buyer agrees to accept the responsibility for the existing mortgage. The seller is not relieved of the obligation unless the lender agrees to release it. Many lenders charge points and ...
Mortgage placed on a property after a previous mortgage. It can be a second, third, etc. mortgage. A junior mortgage is subordinate to the terms of a previous mortgage. Junior mortgages ...
Capacity in real life has numerous meanings. So, what is the definition of capacity? The “capacity definition’ applies to the highest amount a distinct object or entity can ...
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.