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91 Cards in this Set
- Front
- Back
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What is a fee simple absolute?
Example? Can it be conveyed? How Duration? Correlative Future Interest in Grantor? In Third Party? |
Def: Best present possessory interest
Ex: "To A & his heirs" or "To A" Conveyed: It can be sold discendable, devised or alienable. Duration: Infinite duration Future Interests: None |
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Define Defeasible Fee.
What are the three types of Defeasible Fees? |
Fee Simple estates that CAN be terminated upon the happening of a stated event.
1. Fee Simple Determinable 2. Fee Simple Subject to Condition Subsequent 3. Fee Simple Subject to an Executory Interest. |
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What is a Fee Simple Determinable?
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A defeasible fee that terminates on the happening of a stated event and AUTOMATICALLY REVERTS to the GRANTOR.
Frank Sinatra Doesn't Prefer Orville Redenbacher Created: By using durational language like "for so long as" "while "during" or "until" Can be conveyed by grantee still takes subject to the estate's termination by the specified event. |
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How is a Fee Simple Determinable Created?
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By using DURATIONAL language like:
"for so long as" "while" "during" "until" Mere statements of motive or purpose do NOT create a determinable fee |
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Can a Fee Simple Determinable be conveyed?
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Yes. BUT the grantee takes subject to estate's termination by specified event.
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Is there a Future Interest in Fee Simple Determinable? If so, what is it and who holds it?
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Yes.
Possibility of Reverter. The Grantor AUTOMATICALLY retains a Possibility of reverter in the Property. |
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Can a Possibility of Reverter be conveyed?
Example of fee simple determinable |
Yes. It is transferable, descendible and devisable.
EX: P conveys blackacre "to R so long as the premises are used as a recording studio"; R has fee simple determinable |
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What is a Fee Simple Subject to Condition Subsequent?
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Estate where Grantor RESERVES THE RIGHT to terminate on the happening of a stated event.
ie if event happens, grantor must take some action to claim. "To A, but if X event occurs , grantors reserve the right to re-enter and retake" |
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How is a Fee Simple Subject to Condition Subsequent created?
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Grantor must use CONDITIONAL words like:
"upon condition that" "provided that" "but if" "if it happens that" |
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What is the future interest held in a Fee Simple Subject to Condition Subsequent?
Who holds the future interest? |
Grantor holds a RIGHT OF ENTRY if it is a expressly reserved.
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Can a Right of Entry be conveyed? How?
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Yes. Some courts hold that rights of entry are not transferable inter vivos but most states say rights of entry are devisable and all say they are descendible.
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What is a Fee Simple Subject to an Executory Interest?
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When either a Fee Simple Determinable or a Fee Simple Subject to Condition Subsequent terminates and passes to a THIRD PARTY rather then the grantor.
"To A, but if X event occurs, then to B." "To Barry , but if Man ever performs music on the premise, then to mandy 1) words of mere desire, hope, or intention are insufficient to create a defeasible fee. *Cts disfavor restrictions on free land use; Thuse cts will not find a defeasible fee unless clear durational language is used. 2) Absolute restraints on alienation are void. *An absolute restraint on alienation is an absolute ban on the power to sell or transfer, that is not linked to a reasonable time limited purpose |
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What is an Executory Interest?
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Future Interest a Third Party holds in either a Fee Simple Determinable or Subject to Condition Subsequent.
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What is a Fee Tail?
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An estate where inheritability is limited to lineal heirs.
Created by the words "to A and his heirs of his body" Most jurisdictions have abolished (not DE) and if created the interest reverts to fee simple. |
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What is a Life Estate?
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An estate measured by the life of one or more persons.
"To A for Life" |
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What happens when a life tenant (A) conveys their life estate to another (B) ?
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B has a life estate "pur autre vie" which ends when A dies.
Life estate measured by a life estate measured by a life other than grantees. "To A for the life of B" |
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Are life estates defeasible?
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Not usually but they can but they can be either determinable, subject to condition subsequent or subject to executory interest.
Ex. "to A for life, but if A is divorced, then to B." Life estate's accompanying future interest? 1) If held by O, the grantor, it is called reversion 2) If held by a third party it is a remainder |
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What are a life tenant's rights and duties on the land?
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A life tenant is entitled to any ORDINARY uses and profits of the land but cannot do anything to injure the interests of a remainderman or reversioner ie commit WASTE. If they do the future interest holder may sue for damages to enjoin the life tenants activities.
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What are the three types of waste?
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1. Affirmative (Voluntary) Waste
2. Permissive Waste 3. Ameliorative Waste |
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When may a life tenant exploit the natural resources on their life estate?
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1. When necessary for the repair or maintenance of the land.
2. When the land is suitable ONLY for such use. 3. Where expressly/impliedly permitted to by the grantor. |
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What is the open mines doctrine?
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If mining was done on the land prior to a life estate, the life tenant can continue mining BUT is limited to the mines ALREADY OPEN.
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What is Affirmative Waste?
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When a life tenant exploits the natural resources of their life estate UNLESS:
(i) its necessary for repair or maintenance of the land (ii) the land is suitable only for such use OR (iii) with the permission of the grantor. *The life tenant may consume natural resources for repairs and maintenance *The life tenant may exploit if granted that rt *Exploitation meaning the land is suitable only for exploitation (EX: Quiry |
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What is Permissive Waste?
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When a life tenant fails to protect or preserve the land.
Life tenant must simply maintain the premises in reasonably good repair. |
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What is a life tenant obligated to do to avoid a charge of permissive waste?
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1. preserve the land and structures in a reasonable state of repair.
2. pay interest on mortgages (not principal) 3. pay ordinary taxes on the land to extent of income or profits from the land. 3. If there is no income or profit, life tenant is req to pay all ordinary taxes to the extent of premises fair rental value |
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What is Ameliorative Waste?
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Life tenant nust not engage in a acts that will enhance the property's value, UNLESS:
-All future interest holders are known and consent |
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What happens when a life tenant renounces his life estate?
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The future interest following the life estate gets possession immediately
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Future Interest Capable of Creation in the Grantor: 1. What is the Possibility of reverter? 2. What is the Right of renentry (power of termination? |
1.Accompanies only the fee simple determinable 2. It accompanies only the fee simple subject to condition subsequent
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1. Future Interests in Transferees: |
1. If our future interest is held by someone other than the grantor, it has to be either: I. Vested Remainder (3 types) II. Contingent Remainder, or III. Executory Interest (2 types) |
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How do you create a Remainder?
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**Express conveyance. In other words remeaindermen always accompanies a preceding estate of fixed duration. That proceeding estate is usually a life estate or a term of years
Ex. "To A for life, then to B and his heirs." B has a remainder. **Never follow a defeasible fee
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What are the 4 types of Remainders?
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1. Indefeasibly Vested Remainder
2. Vested Remainder Subject to Open 3. Vested Remainder Subject to Total Divestment 4. Contingent Remainders **A remainder is vested if it is both: 1. created in an ascertained person and 2. is not subject to a condition precedent **A remainder is contingent if it is: 1. created in an unascertained person or 2. is subject to a condition precedent or both **A condition is a conditiom precedent when: 1.it appears before the language creating the remainder or 2. is woven into the grant to remainderman |
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What is an Indefeasibly Vested Remainder?
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A future interest in an EXISTING AND ASCERTAINED person and is NOT SUBJECT TO A CONDITION PRECEDENT prior to taking or subject to divestment or dimunition after taking.
The holder of this remainder is certain to acquire an estate in the future w/ no strings attached -To A for life, remainder to B. A is live. Bis alive. *A has: Life estate *B has:Indefeasibly vested remainder (B is known-No strings attached to taking) *If B dies befroe A?- At common law B's futur interest passes by the will or intestancy
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What is a Vested Remainder Subject to Open?
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A vested remainder created in a class of persons thhat is certain to become possessory BUT is subject to dimunition by additions to the class.
Here remainder is vested in agroup at least one whom is qulaified to take, but each class member;s share is subject to partial dimunition because additional members can still be added -Ex: To A for life, then to B's children. A is alive. B has 2 children, C and D. *Cand D have vested remainder subject to open Rule of Convience: The class closes whenever any member can demand possession (see example) Exception:The Womb Rule -A child of B in the Womb at A's death will share w/ C and D |
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What is a Vested Remainder Subject to Total Divestment (Complete defesance)?
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A vested remainder subject to condition subsequent.
Ex. "To A for life, then to B and his heirs, but if B does X, then to C and his heirs." B has a vested remainder subject to divestment by C's executory interest. Here remainderme exist. His taking is not subject to any condition precedent. However, his rt to possession could be cut short bc of conditionEx. "To A for life, remainder to B, provided, however, that if B dies under the age of 25, to C. B is 20 yr old. *A-Life estate *B-Vested remainder subject to complete defesance *C-Shifting executory interest *If B under 25 at A's death B still takes.... |
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What is a Contingent Remainder?
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A Remainder created in an:
Unborn or Unascertained person(s) OR Subject to a condition precedent ie the condition must be satisfied BEFORE the remainderman has a right to possession |
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What is the Doctrine of Merger regarding Contingent Remainders?
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When one person acquires all of the present and future interests in land except a contingent remainder, under the common law, the contingent remainder is DESTROYED unless the life estate and the next vested interest were created by the same instrument then there is no merger (because would defeat grantor's intent)
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1. What is Rule of Destructibility of Contingent Remainders? (No longer exist) |
1. At comm a cotingent remainder was destroyed if it was still contingent at the time the proceeding estate ended -Ex: To A for life, and if B has reached the age 21, to B. Now A died leaving behind B, who is still only 19 *If B is still under 21 when A dies, O or O's heirs hold the estate subject to B's springing executory interest. Once B reaches 21, B takes. At common law, if the same instrument created a life estate in A and gave the remainder only to A's heirs then the remainder was not recognized and A took the life estate and the remainder. Ex. O conveys "To A for life, then on A's death, to A's heirs. A is alive Today: *A- life estate *A's as yet unknown heirs-contingent remainder *O-Reversion since A could die w/o heirs |
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What is the Doctrine of Worthier Title?
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A remainder in the grantor's heirs is invalid and becomes a reversion in the grantor.
Applies when O, who is alive, tries to create a future interest in his heirs -O, who is alive, coveys to "to A for life, then to O's heirs." -The contingent remainder in O's heirs is void. Thus A has life estate and O has reversion **promotes free land transfer **Rule of construction and not a rule of law
If Rule doesn't apply: -A has-life estate -O's heirs have- Contingent remainder bc O is still alive and a living person has no heirs |
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What is an Executory Interest?
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Future Interest in a third party (not vested so subject to RAP) that either:
Divest a transferee (shifting interest) Follow a gap in possesion OR Cut short a Grantor's estate (springing interest) Furture interest created in a transferee (3rd party) which is not a remainder and whch takes affect by either cutting short some interest in another person (shifting) or in the grantor or his heirs (springing) -It always follows a defeasable fee and cuts short somene other than grantor -Example of Shifting:To A and heirs but of B returns from Canada sometime next year, to B and his heirs *B-Sifting executory interest *A-fee simple subject to B's shifting executory interest -Example of Springing EI: O conveys, "To A, if and when he marries." A is unmarried. *A has soringing executory interest *O has fee simple subject to A's springing executory interest |
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When does a class close such that no one born after that time may share in the gift?
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When any member of the class can call for distribution of his or her share.
Persons in gestation at the time the class closes are included. |
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What is a Trust?
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A fiduciary relationship w/ respect to specific property (res) wherein the trustee holds legal title to the property subject to enforceable equitable rights in a beneficiary.
Subject to RAP. |
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What are the 4 rules governing charitable trusts?
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1. Must have a charitable purpose
2. Must have indefinite beneficiaries 3. May be Perpetual (RAP doesn't apply) 4. Cy Pres Doctrine allows courts to select alternative charities when the purpose of the trust becomes impractical or impossible. |
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What is the Rule Against Perpetuities? (RAP)
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No interest in property is valid unless it must vest, if at all not later than 21 years after some life in being (measuring life) at the creation of the interest.
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What interests does the RAP apply to?
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*contingent remainders
*executory interests *vested remainders subject to open options to purchase (not attached to a leasehold) rights of first refusal powers of appointment Does not apply to: Future interest in O grantor, Indefeasible vested remainders, Vested remainders subject to complete defeseance |
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When does the perpetuities period being to run? (for RAP)
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Interests granted by will: from the date of the testator's death.
Deeds: Date of Delivery Irrevocable Trusts: Date the trust is created. Revocable Trusts: Date it becomes Irrevocable. |
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What interests are exempt from RAP?
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all vested remainders (except for vested remainders subject to open)
Grantor's interests: Reversions, Possibilities of Reverter, Rights of Entry Any gift from charity to charity -To American Red Cross, so ;ong as the premises are used for Red Cross purposes and if they cease to be so used, then to the YMCA-o |
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4 Steps for Assessing RAP: |
Steps: 1) Determine which future interests have been created by conveyance 2) Identify the conditions to the vesting of the suspect future interest (what has to happen for future interest holder to take 3)Find a measuring life. Look for a person alve at the date of the conveyance and ask whether that person's life or death is relevant to the condition's occurrence 4) Asl will we know w/ certainty , w/in 21 years of the death of our measuring life, if our future interest holder can or cannot take? Is so, ok. If possibility however remotecondition precedent could not occur more than 21 yrs after death of a measuring, VOID |
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2 Rules for RAP to Memorize |
**A gift to an open class that is conditioed on the members surviving to an age beyoond 21 violates the common law RAP -Ex: To A for lie, then to such A's children as live to attain the age of 30. A has 2 children Band C 35 nd 40. A is alive.=Void as to RAP **Many shifting executory interests violates the RAP. An executory interest w/ no limit on time w./in which it must vest violates the RAP. -To A and his heirs so long as the land is used for farm purposes, and if the land ceases to be used, to B and his heirs-Void .................................................................. 2. USRAP-Alternate 90 year vesting period 3. Cy Pres (as near as possible)- statutes that allow courts to reform the invalid interests to carry out the donor's general intent to most closely matches the grantors intent 4) The reduction of any offensive age contingency to 21 years |
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What is the Rule Against Restraints on Alienation?
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Generally, any restriction on the transferability of a legal (as opposed to equitable) interest is void.
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What are the three types of restraints on alienation?
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1. Disabling restraints - attempted transfers are ineffective. (Void on any time of legal interest.)
2. Forfeiture restraints - where an attempted transfer forfeits the interest 3. Promissory restraints - where an attempted transfer breaches a covenant. |
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When are restraints on fee simple estates allowed?
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Absolute restraints are void but restraints on fee simple estates for a LIMITED TIME or a REASONABLE PURPOSE will likely be upheld.
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What is a joint tenancy?
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A concurrent right to land b/w 2 or more persons own w/ RIGHT OF SURVIVORSHIP.
*When one dies his shares goes to surviving joint tenants *Joint tenant interest is not devisable or discendable *It is alienable |
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How is a joint tenancy created?
Use of Straw |
4 Unities:
T-TIP Time -Must take at same time Title-At the sane time Interest- Have iendtical interest Possession- Rts to possess the whole
*Grantor must clearly express the rt of survivorship *Joint tenancies are not favored Straw Ex: Dave holds Blackacre in fee simple absolute. He wishes to hold it s joint tenant with his best friend Paul. how must Dave proceed? -To satisfy 4 unities: Using Straw 1)Dave convey to straw 2) Starw conveys to Dave and Paul w/ rt of survivorship |
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How is a joint tenancy severed? (so that a tenancy in common results)
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1. A joint tenant can sell or transfer her interest during her lifetime
-Whether secretly and w/o other knowledge or consent -Sever hoint tenancy as to the contracting parties interest bc of equitable conversion *Severance and Partition: a peaceful way to end relshp (3 ways): I. By voluntary agreement II. Partition in Kind-Ct action for physical division of Blackacre if in best interest of all (use with farm or vineyard) III. Forced Sale-when in best interest, proceeds are divided proportionally (Use with single building) |
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Severance and Mortgage: Is a joint tenancy severed when one joint tenant obtains a judgment lien against the property?
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Minority-One JT's execution of a mortgage or lien on his share will sever as to the encumbered share only Majority- (Lien theory) JT execution of mortgage on his interest will not sever JT (No unless the property is actually sold at a foreclosure sale.) |
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Is a joint tenancy severed when one joint tenant obtains a mortgage on the property?
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Depends on whether the state follows the title theory or the lien theory.
Title theory: Getting a mortgage severs Lien theory: no severage unless the mortgage is foreclosed and the property is sold. |
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What is a tenancy by the entirety?
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A Joint Tenancy with right of survivorship between a marital couple.
Arises presumptively in any conveyance to a married couple unless stated otherwise |
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How is a tenancy by entirety severed?
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Death
Divorce Mutual Agreement Execution by a joint creditor of both H&W. An individual spouse cannot convey or encumber the property and a deed or mortgage executed by one spouse is ineffective (Unilateral transfer is ineffective) |
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What is a tenancy in common?
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Concurrent estate with no right of survivorship.
Tenants can hold different interest in the property but each is entitled to possession of the whole. Interests are alienable, devisable and inheritable. |
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What are co-tenants' rights of possession?
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Each co-tenant has the right to possess all portions of the proeprty but has not right to exclusive possion of any part.
A co-tenant out of possession cannot bring a possessory action unless she is ousted |
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What are co-tenants' rights to rents and profits?
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**One co tenant wrongfully excludes another co tenant from possession of the whole or any part, he has committed wrongful ouster **Absent ouster co tenat in exclusive possession is not liable for the others for rent **A co tenant wo leases all or part of the premisies to 3rd party must account to his co tenants giving their fair share of the rent income (Rent=undivided interest in the whole |
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What happens when one co-tenant encumbers the property?
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Co-tenant may encumber her interest but not the interests of other co-tenants ie a mortgagee can only foreclose on the interest of the mortgagor.
**Unless has ousted the other co tenants, one co tenant in exclusive possession for the statutory adverse possession period cannot acquire title to the exclusion of others bc hostility element is missing |
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What are their obligations for carrying cost? Repairs? Improvements? Waste? |
**Each co tenant is responsible for his fair share of carrying cost (taxes and mortgage interest payments) based on his undivided share **The repairing co tenant enjoys rate to contribution during life of tenancy for any reas necessary repairs provided sge has told other of the need **During life of co tenancy there is no rt to contribution for unilateral improvements -At partition the improving tenant is entitled to a credit to any increase in value she caused -At partition the so called "improver" bears full liability for any drop in value **A co tenant must not commit waste (voluntary,, permissive, or ameliorative |
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How is a joint tenancy severed? (so that a tenancy in common results)
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1. Inter vivos conveyance by a joint tenant of her undivided interest.
2. Contractual conveyance by a joint tenant of her undivided interest |
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Is a joint tenancy severed when one joint tenant obtains a judgment lien against the property?
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No unless the property is actually sold at a foreclosure sale.
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Is a joint tenancy severed when one joint tenant obtains a mortgage on the property?
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Depends on whether the state follows the title theory or the lien theory.
Title theory: Getting a mortgage severs Lien theory: no severage unless the mortgage is foreclosed and the property is sold. |
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What is a tenancy by the entirety?
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A Joint Tenancy with right of survivorship between a marital couple.
Arises presumptively in any conveyance to a married couple. |
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How is a tenancy by entirety severed?
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Death
Divorce Mutual Agreement Execution by a joint creditor of both H&W. An individual spouse cannot convey or encumber the property and a deed or mortgage executed by one spouse is ineffective |
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What is a tenancy in common?
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Concurrent estate with no right of survivorship.
Tenants can hold different interest in the property but each is entitled to possession of the whole. Interests are alienable, devisable and inheritable. |
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What are co-tenants' rights of possession?
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Each co-tenant has the right to possess all portions of the proeprty but has not right to exclusive possion of any part.
A co-tenant out of possession cannot bring a possessory action unless she is ousted |
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What are co-tenants' rights to rents and profits?
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A co-tenant in possession has the right to retain (ie not share) profits from her own use of the property. However, she must share net rents from third parties and net profits gained from exploitations of the land.
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What happens when one co-tenant encumbers the property?
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Co-tenant may encumber her interest but not the interests of other co-tenants ie a mortgagee can only foreclose on the interest of the mortgagor.
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What are co-tenants' rights to partition the property?
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Any co-tenant has a right to judicial partition at any time, either in kind (physical division) or by sale and division of proceeds.
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When is a co-tenant entitled to contribution from the other co-tenant(s)
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1. Repairs: If a co-tenant NOTIFIES her co-tenant(s) of NECESSARY repairs, she can receive contribution for the amount she pays over her pro rata share.
2. Improvements: No right of contribution unlesss there is a partition 3. Taxes and Mortgages paid on the entire property. However, reimbursement to a co-tenant in sole possession is limited to the extent that expenditures exceed the rental value of her usage. |
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What is a leasehold?
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An estate in land under which the tenant has a present possessory interest in the leased premises and the landlord has a future interest (reversion).
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What are the 4 types of leasehold?
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1. Tenancy by Years
2. Periodic Tenancy 3. Tenancy at Will 4. Tenancy at Sufferance |
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What is a Tenancy by Years?
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A tenancy that continues for a FIXED period of time (does not have to be years-2 days or 10 years)
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How is a tenancy by years created?
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Usually by written lease (the Statute of Frauds requires a writing if the lease is for more than one year)
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How is a tenancy by years terminated?
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1. No notice is needed; Automatically at is stated termination date.
L leases BA to T from Jan 1, 2011 to July 1, 2011= Tenancy for year bc a leased for a fixed period; No notice needed to terminate
**A term of years exceeding 1 year must be in writing |
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What is a periodic tenancy?
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A lease that continues indefinitely for successive periods until terminated by notice by LL or Tenant
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What are the 3 ways a periodic tenancy can be created?
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1. Express Agreement
-L conveys to T from month to month or week to week I. Land is leased with no mention of duration, but provision is made for payment of rent for set intervals II. An orals term of years in violation of the statute of frauds creates implied periodic tenancy measured by the way rent is tendered -T's first rental payment renders his interest: Implied periodic tenancy with the intervals based on way rent is tendered III. The holdover in a residential lease if Lelects to hold over a T who has wrongfully stayed on past the conclusion of the original lease: Implied periodic tendancy measured by way rent is tendered
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How is a periodic tenancy terminated?
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By Notice (Usually in writing) which must be given one full period in advance and timed to terminate at a natural end period (ex. 30th or 31st of the month)
-Ex: In month to month lease- 1 month notice; In a week to week lease- 1 week notice *By private agreement the parties may lengthen or shorten these common law notice provisions *The periodic tenancy must end at the conclusion of a natural lease period -Ex: LL leased BA to T on Jan 1 2010, for a periodic tenancy of month to month. On May 15th, 2010 T sends written notice of termination. T is bound until June 30th |
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What is a tenancy at will?
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A tenancy terminable at the will of either the landlord or the tenant.
-Ex: To T for as long as L or T desires **Unless the parties expressly agree to a tenancy at will the payment of regular rent will cause a court to treat this as an implied periodic tendancy **The tenancy at will may be terminated by either party at any time but a reasonable demand to vacate is usually needed |
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How is a tenancy at will created?
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By an express agreement that the lease can be terminated at any time.
If the lease gives only the landlord the right to terminate a similiar right to terminate will be implied for the tenant but not vice versa |
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What is a tenancy at sufferance?
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Occurs when a tenant WRONGFULLY remains in possession after the expiration of a lawful tenancy.
-LL can recover rent -Last only until LL evicts T or eects to hold T to a new tenancy |
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How is a tenancy at sufferance terminated?
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When the landlord takes steps to evict the tenant. No notice is needed.
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What is the Hold-Over Doctrine?
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If a tenant continues in ppossession after his right to possession has ended, the landlord may:
(1) evict him (2) bind him to a new periodic tenancy. |
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If a tenant holds-over what terms and condition govern the new lease?
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the terms and conditions of the expired lease UNLESS the landlord notifies the tenant before the lease expired that the rent will be increased
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What are the exceptions to the hold-over doctrine? ie situations where the landlord cannot bind the tenant to a new tenancy.
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1. the tenant remains in possession on a few hours or leaves a few articles of personal property.
2. Delay is not the tenant's fault (ie severe illness) 3. Seasonal lease. |
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What are a tenant's duties?
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1) Duty to Repair: a tenant cannot damage (Cannot commit waste)
*Standard: T must maintain the premises and make routine repairs other than those due to ordinary wear and tear *T must not commit waste *T is responsible for keeping the premises in good repair *T is loable for injuries sustained by 3rd parties T invites even where LL promised to make repairs *Ex:LL leases a building to T, expressly promising to maintain the premises in a state of good repair. T's invitee trips over a loose floorboard and sues T. If inviteee sues T, what reslut? T loses
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Describe the three types of waste as they are applied to the landlord/tenant relationship.
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Voluntary (Affirmative) waste: when the tenant intentionally or negligently damages the premises or exploits minerals on the property.
Permissive Waste - when tenant fails to protect property from the elements, or make ordinary repairs (unless the duty is shifted to landlord then tenant has duty to report problems to landlord) Ameliorative Waste: when the tenant alters the leased property, increasing its value. The tenant is liable for the cost of restoration unless he is a long-term tenant and the change reflects changes in the neighborhood. |
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Law of Fixtures |
* when a T removes a fixture=Voluntary waste * A fixture is once moveable chattel that by virtue of its annexation to realty:Obectively shows the intent to permanently improve the realty -Ex: heatign systems, custom storm windows, furnace, certain lighting installations * T must not remove fixtures no matter that she installed it *Fixtures pass with ownership of the land |
