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Real Estate Contracts >Personal Property
When you purchase a property, it usually includes the land and everything attached to it, such as buildings, trees, shrubs, etc. Most buyers are only interested in purchasing the real estate, not the owner's personal property. What happens when personal property has become a part of the real estate? Is it actually a "fixture" which will now convey to the buyer with the real estate?
There are three tests which usually need to be satisfied. Has the personal property been permanently annexed to the real estate? Is it intended to become part of the real estate? What is the local custom? Fixtures may include shades, heaters, ranges, screens, storm windows, lighting fixtures, etc. To save misunderstanding at the closing--and perhaps the sale--it is important that the seller spell out specifically in the sales agreement what will go to the buyer as part of the property.
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| Q |
Where is the world's largest bridge located?
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| A |
Lake Pontchartrain Causeway at New Orleans, Louisiana is the world's largest bridge. It is almost 24 miles long. |
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Lindsay Smith
Keller Williams Energy Brokerage
420 Green
St Whitby, Ontario L1N 8R1
905-430-2320
Fax: 1-888-357-3549
lindsay@soldbylindsay.com
Negotiating for over 2 decades means having gained experience from many difficult and challenging situations. I bring this experience with me to help you achieve a better price. I am continually negotiating with sales reps with lesser experience which gives my clients the opportunity to sell higher or buy lower.
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