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By deduction, therefore, a trade fixture is not a fixture at all. Its name is misleading, since a fixture, by definition, is real property that must remain with the real estate when a seller sells it or a tenant leaves her lease. A trade "fixture" is not real property, but personal property of the tenant. The landlord does have some protection.
In English common law, real property, real estate, immovable property or, solely in the US and Canada, realty, refers to parcels of land and any associated structures which are the property of a person. For a structure (also called an improvement or fixture) to be considered part of the real property, it must be integrated with or affixed to ...
Quicquid plantatur solo, solo cedit (Latin, "whatever is affixed to the soil belongs to the soil") is a legal Latin principle related to fixtures which means that something that is or becomes affixed to the land becomes part of the land; therefore, title to the fixture is a part of the land and passes with title to the land.
For example, house A in an area zoned for residential use may have a highest and best use as vacant and a highest and best use as improved that are both residential. A similar house B in a commercially zoned area may have a highest and best use as vacant as development to a commercial development, and the highest and best use as improved may be ...
Real property is generally sub-classified into: corporeal hereditaments – tangible real property (land) incorporeal hereditaments – intangible real property such as an easement of way; Although a tenancy involves rights to real property, a leasehold estate is typically considered personal property, being derived from contract law.
Much of South Florida’s housing market is expected to remain resilient since the legislation was modified, according to a real estate lawyer, consultant and broker interviewed for this story.
States vary in how they tax common areas, for real estate tax purposes. It may depend on whether it is a condo or a co-op. For example, the state of Arizona taxes "residential common areas" in housing developments with a flat tax, but common areas of condominiums and golf courses are assessed separately.
Two methods for constructing a home can be distinguished: the method in which architects simply assume free choice of materials and parts, and the method in which reclaimed materials are used, and the house is thus during its entire construction a "work in progress" (meaning every single aspect of it is subject to change at any given time, depending on what materials are found).