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
After-tax cash flow is a calculation method for companies’ financial performance to show their ability to generate cash flow through their operations. The after-tax cash flow formula ...
A binding arbitration is a way to solve disputes without going to court. An alternative to the more expensive and lengthy legal procedures, a binding arbitration is basically the process ...
One to whom a gift or bequest is made. ...
Legal contract in which the lender controls the pledged property being financed. The agreement describes the property and its location. Of default occurs, the lender may sell the ...
In general terms, a licensee means a person or legal entity who has received authorization or permission to perform a particular activity through another party (the licensor in our case.) ...
Refinancing seems easy to understand but is it really? Here’s a lengthy refinancing definition so you can make up your mind once and for all regarding the exquisiteness of the ...
Under law, a warranty in effect even if not expressly stated. It provides that real property sold is warranted to be appropriate for sale and is in proper condition even if not stated, ...
A closed-end mortgage is a mortgage in which the collateralized property cannot be used as security for another loan. See also open-end mortgage for a better understanding of the ...
English architecture. This style has two levels with the second level typically overlaying the first story. The roof is high and the chimney is sculptured. ...
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.