Total Circumstance Test The test that determines whether an item is a fixture or not

Real Property Vs. Personal Property Flashcards Total Circumstance TestThe test that determines whether an item is a fixture or not through IRMA Intention of the AnnexorDid the person who installed it intend it to be a permanent fixture? ( most important) What is a Chattel Fixture?Trade Fixture Fructus industrialesAnnual crops known as emblements, which are considered personal property.Trade FixturesAn item owned by a tenant in a rented space for conducting business.Method of AnexorHow permanently is the item attached?FixtureAn item that was once personal property but has been turned into real property.NC Uniform Commercial CodeGives creditor a security agreement that items remain personal property and may be removed by the creditor in the event of a default.Relationship of AnnexorIs the person an owner or tenant?SeveranceChanging an item of real property to that of personal property.EmblementsPlants that are considered personal property.what does the acronym IRMA stand for?I- Intention of the annexorR- Relationship of annexorM- Method of anexorA- Adaption to Real Estate Agricultural FixturesAre considered real property, even if installed by a tenant.What are the three ways trade fixtures are different from other fixtures?1) Trade fixtures are owned and installed by tenant and remain their personal property2) Trade fixtures are allowed to be removed by end of lease as long as space is restored to original condition3) Trade fixtures are not included in the sale of real property.Adaption to Real EstateHas the item been customer built into the property?AccessionIf a trade fixture is not removed by the end of the lease, they become the real property of the land lord.What are the two terms for plants either being personal or real property?Fructus naturalesFructus industriales AnnexationPersonal property that has become real improvements or real property to the land.Fructus naturalesTrees, grasses, bushes that do not require annual cultivation. These are considered real property.