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| Real -v- Personal Property |
At closing time, the
last thing you want is a dispute over what goes with the house and what doesn't. But it
isn't all that unusual for a buyer to think a particular item is included in the sales
price, while the seller never had any intention of including the same item! Classic
examples include window coverings, lighting fixtures and chandeliers. But just about
anything which might be construed by a buyer as being "part of the house" has
the potential for misunderstanding and disagreement.
Generally, the law says that anything which is part of the land or attached to the house
and is immovable, or can't be removed without damage, or anything which is incidental or
appurtenant to the land is real property. Personal property is basically everything
else - the possessions you take with you when you move.
The law recognizes the intent and manner with which an item is attached in determining
whether an article or fixture is real or personal property. Built-in appliances are
usually considered real property, while free standing ones are usually personal
property. If removing the item requires pulling nails, it's probably real
property. If it can be unscrewed and removed without leaving any damage, it might be
an item ready to cause some disagreement!
To avoid problems, both buyers and sellers should make detailed lists of any items to be
included in the sale before closing. As a seller, give your list of items to be
included to the closing agent. If there is something you want to take with you, and
it requires removing a screw or nail, put it in the contract.
Remember, as with everything else in real estate, it's all negotiable. If there is a
unique item you want included in your purchase, you may be able to get it included at a
reasonable price. Especially if the item won't fit in with the new home the seller
is moving to. |
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