Which of the following is NOT a factor used to determine if an item is a fixture?
Correct Answer
C) Purchase price of the item
The standard tests for determining whether an item is a fixture (commonly remembered by the acronym MARIA) include Method of attachment, Adaptability to the property, Relationship of the parties, Intent of the installer, and Agreement of the parties. Purchase price is not a recognized factor in fixture determination under New Mexico real estate law.
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Related Topics & Key Terms
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Related Concepts
Tenancy in common is a form of co-ownership in which two or more persons hold separate, undivided interests in property without the right of survivorship. Each owner can hold unequal shares and can independently transfer their interest.
A freehold estate conveys ownership rights, while a leasehold estate grants the right to possess and use property for a specific period without ownership.
Riparian rights concern properties bordering flowing bodies of water (rivers, streams), while littoral rights concern properties bordering non-flowing bodies of water (lakes, oceans).
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