Fixture Clause in Real Estate Contracts
A fixture clause is a provision in a real estate contract that specifies which items attached to the property are considered fixtures and will remain with the property when it is sold. Fixtures are items that are physically attached to the property and are intended to be a permanent part of it, as opposed to personal property, which is movable.
Typically, a fixture clause will detail items such as light fixtures, built-in appliances, heating systems, and other permanent enhancements that are included in the sale. The clause aims to avoid disputes between buyers and sellers by clearly defining what items are part of the transaction.
For example, if a seller intends to take a chandelier with them when they move out, they must explicitly state this in the contract or the fixture clause to avoid confusion. Conversely, if the contract states that all light fixtures are included, the buyer can expect the chandelier to remain with the property.
In summary, the fixture clause plays a crucial role in real estate transactions by ensuring clarity regarding the ownership of items attached to the property, thereby protecting the interests of both parties involved.
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