What is a fixture, according to the Maria definition?

Get ready to ace the Metro Brokers Academy Test. Enhance your skills with flashcards and multiple-choice questions, complete with hints and explanations. Prepare thoroughly for your exam!

A fixture, according to the Maria definition, refers specifically to a property that was once personal but has become real property. This typically involves items that, although initially considered personal property, have been attached to or made a part of a building or land in such a way that they are now considered part of the real estate. Examples include items like light fixtures, built-in cabinets, or plumbing – things that enhance the utility or value of the property and are intended to remain with the property when it is sold.

Understanding this definition is crucial in real estate because it affects property rights and ownership. When property is sold, fixtures are included in the sale, whereas personal property remains with the seller unless explicitly stated otherwise in the sales agreement. This distinction helps ensure clarity and prevents disputes between buyers and sellers.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy