Fixtures 2
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Welcome to the course!
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The Real Estate Business
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Law & Qualifications
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License Law And Commission Rules
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Authorized Relationships, Duties, And Disclosure
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Brokerage Offices and Branch Requirements
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Violations Of License Law, Penalties And Procedures
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Chapter 8
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Property Rights
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Title, Deeds And Ownership Restrictions
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Legal Descriptions
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Real Estate Contracts
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Residential Mortgages
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Types of mortgages
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Real Estate Related Computations And Closing Of Transactions
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The Real Estate Markets And Analysis
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Real Estate Appraisal
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Real Estate Investments And Business Opportunity Brokerage
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Taxes Affecting Real Estate
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Planning, Zoning And Environmental Hazards
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Course Assessments
FLORIDA REAL ESTATE SALES ASSOCIATE COURSE
Property Rights
Section 7 of 28
If a buyer and seller end up in court fighting over a chandelier, the judge uses the "IRMA" test to decide if it is a fixture.I - Intent of the Parties. This is the most important test. Did the person installing it intend for it to be permanent? (e.g., A built-in bookshelf looks permanent; a bookshelf resting on the floor does not).R - Relationship (Agreement) of the Parties. Who installed it? Courts tend to favor the buyer over the seller, and the tenant over the landlord.The Contract: If the written contract says "The washer and dryer convey," that overrides everything else. Always put it in writing!M - Method of Attachment. How is it attached? If removing it will cause damage to the property (leave a hole in the wall), it is likely a fixture.Example: Curtain rods are screwed in (Fixture/Real Property). The curtains hang on the rods (Personal Property).A - Adaptation of the Item. Was the item custom-made for this specific home?Example: Hurricane shutters cut specifically for these windows, or custom drapes that match the odd-shaped window. Even if they are easily removable, they are fixtures because they don't fit anywhere else.
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