Upon ownership transfer, which property aspect usually remains with the land?

Prepare for the Metro Brokers Exam with flashcards and multiple choice questions. Each question is accompanied by hints and explanations. Get ready for your certification!

When a property is transferred from one owner to another, fixtures are considered part of the property and typically remain with the land. Fixtures are items that were originally personal property but have been attached to the real estate in such a way that they become a permanent part of it. This could include items like built-in shelves, lighting fixtures, or plumbing installations. The key factor is that these items are affixed to the property and are intended to remain with it.

In contrast, air rights pertain to the space above the property, which can be sold or leased separately and do not automatically transfer with the land. Personal property refers to movable items that are not fixed to the land, such as furniture or vehicles, and these items are typically removed by the seller upon transfer. Leases relate to the rental agreements for the use of the property, which are not considered part of the land itself. Therefore, understanding the nature of fixtures illustrates their importance in property transactions, as they represent value that remains with the real estate upon transfer of ownership.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy