Discussion:
As a real estate transaction occurs, one of the areas to be agreed upon by the parties is the designation of fixtures on the property in question. Toilets and light fixtures are generally considered by law to be a fixture that remains with the property, but what about appliances? Clarification must be made as to what each party is labeling as a fixture. Consider the following scenario: Assume that the owner of a restaurant business leases the space for the restaurant from the building's owner. Business for the restaurant has grown, and the owner of the business plans to move to a new location when the current lease expires.After reviewing the scenario and the Resources for this week, respond to the following:Which items might there be an issue over whether or not they have become fixtures? What are the primary factors that the courts use in determining if a particular item is a fixture? In what circumstances other than a lease situation can it be important to identify why a particular item is considered to be a fixture? Give examples.