During showings, buyers admired floor-to-ceiling bookcases custom built and screwed into the living room wall. At closing, the seller had removed them without any written exclusion. What is the best conclusion?
Correct Answer
A) The bookcases were fixtures and should have remained with the property
Custom bookcases that are built in, attached to the wall, and adapted to the room are usually treated as fixtures. Without a written exclusion, they ordinarily remain with the property and should not have been removed.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Condominium ownership involves owning a unit of airspace within a multi-unit building plus an undivided interest in the common elements shared with other unit owners. Each unit is separately taxed and financed.
In a cooperative (co-op), the building is owned by a corporation, and residents purchase shares of stock in the corporation that entitle them to a proprietary lease on a specific unit. Residents are shareholders, not property owners.
Fee simple absolute is the highest and most complete form of property ownership, giving the owner unrestricted rights to use, possess, enjoy, and dispose of the property. It is of unlimited duration and fully inheritable.
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