Real Estate, Real Property, Personal Property, Fixtures

Real Estate, Real Property, Personal Property, Fixtures

Real Estate, Real Property, Personal Property, Fixtures the distinction of these are not always clear and when selling your home you should have a clear understanding of their meanings.

Real estate is simply the land and everything permanently attached to it.  Land is the earths's surface, everything on and under it.  Including water and minerals.  Real Property is the same thing, but is also considered the Bundle of rights that the property owner has; that is the right to do with the land as he/she decides.  Depending on the state where property is owned real estate is also referred to as real property...they are the same.

Personal property are those things not permanently attached to the land.  Furniture, a small shed not attached to the land are examples of personal property.  A window air conditioner would normally be considered personal property, however, if the window air conditioner was placed in a wall where an opening was cut out for it's specific use then the air conditioner would most likely be considered part of the real estate.  

This brings me to Fixtures.  Fixtures are those things permanently attached to the land and would include trees, most landscaping, buildings and fences.  The tests of an item being a fixture are: the intention of the person who placed or attached the item to the land.  How the item was attached...was the item attached in such a manner that it would be permanent or not eaisly removed without damage to the structure or land?  Is the item adaptable to the lands use?  Also the agreement of the parties involved.  An item attached to the land will be considered a fixture, however, the sales contract can ask for or state otherwise. 

When selling a house, if you plan on taking with you when you move, landscaping, a bush, a favorite light fixture or some family heirloom that is attached to the property, it's best that it be removed and or replaced by another fixture before your home goes on the market to prevent a future buyer from wanting it as part of the transaction.

If you need a knowledgeable real estate professional in Madison or Huntsville Alabama area, why don't you let me Google that for you!  I also know outstanding agents in all states and Canada should you need help relocating to a new area.