Which of the following is NOT one of the legal tests used to determine if an item is a fixture?
Correct Answer
C) Purchase price of the item
The three standard legal tests for determining whether an item is a fixture are: method of attachment, adaptation to the property, and intent of the installing party. Purchase price is not a recognized test and has no bearing on whether an item is classified as a fixture.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A freehold estate represents ownership of real property with an indefinite duration.
Joint tenancy is a form of co-ownership in which two or more persons hold equal, undivided interests in property with the right of survivorship. When one joint tenant dies, their interest automatically passes to the surviving joint tenants.
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
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