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
In real estate and across the nation, you will see different types of house structures, frames, and aspects. One of those is the A-frame type. This is an architectural style that leans ...
If you have ever participated in a tricky real estate transaction, you might have encountered the relatively unknown term "deed of confirmation" or "confirmation deed." Read this ...
(1) Short-term loan that is made in anticipation of permanent longer term loans. The interest rate on such a loan is usually higher than on longer term loans. (2) A business loan in which ...
You open your mortgage documents and you see this big amount of money owed under “PITI”. But you have no clue as to what is the right PITI definition. Don’t worry; we got ...
An investigation to ascertain who legally has the title to property. For example, when a house is sold, the attorney for the purchase will do a title search to guarantee that the seller ...
Commercial building having several different uses blending together. For example, retail shops are on the first floor, professional offices are on floors two through ten, and a restaurant ...
Layer of material put on the outside wall or foundation to prevent the intrusion of water or humidity into the structure. A moisture barrier is constructed out of plastic, aluminum foil, or ...
Commitment by a lender to a borrower for a given amount of money at specified terms for the financing of a project. The borrower pays a fee for the privilege of either executing the loan or ...
Aluminum or metal treated barrier that is placed between the concrete and wood of the foundation of a newly constructed building to prevent termites from infesting the wood. Many experts ...
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.