PA RE 1 - Property Ownership 2

A fixture is Considered ____________

An item of personal property that is not permanently attached to real property is usually considered ______________

An item that would most likely be considered a fixture because of attachement to real property is _______________.

An item or personal property that is adapted to a particular parcel of real property is usually considered _____________ -A Trade Fixture -A Fixture -Personal Property

An unattached item of personal property that is not adapted to a particular parcel of real property is usually considered ______________ -Personal Property -A Fixture -A Trade Fixture

An item that would most likely be considered a fixture because of adaptation to real property is _______________ -A Ceiling Fan -Hanging Pictures -A garage door opener -Storm Windows

An item of personal property can become a fixture if it is designated by ______________ -The Seller -The Courts -The Buyer -Both Buyer & Seller

An item that would most likely be considered a fixture because of agreement between buyer and seller is _______________ -A Garbage Disposal -A Garage Door Opener -Draperies -Kitchen Cabinets

One way to remember the conditions under which personal property becomes a fixture (real property) is"Triple A"

An item of personal property may become a fixture by attachment, adaptation, ____________

An item of personal property can become a fixture by 1. Attachment 2 ________ 3 Agreement

An item of personal property may become a fixture by 1. __________ 2. Adaptation 3. Agreement

A trade fixture is considered __________?

A trade fixture may be removed from leased real property _____________? -After the lease expires only -At any time -before the lease expires only -within 3 days after the lease expires

Determining whether property is a real fixture or personal property is important __________ -when taxes are involved only -when property is conveyed only -whenever a property value is determined -when property is insured only