What distinguishes a "fixture" from personal property?

Enhance your knowledge and skills with the IAAO Assessment of Personal Property. Utilize flashcards and multiple-choice questions with detailed explanations. Prepare to excel in your exam!

The distinction between a fixture and personal property primarily revolves around the attachment and integration of the item with real estate. A fixture is defined as an item that was once personal property but has become real property because it is permanently attached to the land or a structure. This attachment signifies that the item is intended to remain with the property, thereby making it part of the real estate.

When an item is permanently affixed, it typically enhances the functionality or value of the property. For example, built-in cabinets or a central air conditioning unit are fixtures because they are physically attached to the building or land and are designed to stay there, contrasting them from personal property, which can be moved and is not permanently affixed.

The other choices highlight traits that are not accurate in defining fixtures. Movability does not necessarily render something as a fixture; rather, it is the permanence of the attachment that qualifies it as such. While some fixtures may not be easily removed by the owner, this is not a definitive characteristic of all fixtures. Additionally, fixtures are not limited to commercial settings but can be found in residential properties as well.

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