Kiritsis & Associates


What are fixtures? Kiritsis Law Group 212 922 0005

May 13, 2021

By: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M

A personal property item that has become part of a real property, because it is attached to real property and its removal would damage the real property. Property that is not fixtured is considered a chattel property. The determination and valuation of fixtures is a common source of legal disputes, because in many cases the value of fixtures exceeds that of the land. The word ‘fixture’ is a legal term, and it is designed to reflect on the permanency of a physical object to a real property. The determination of whether a physical object is a fixture, may have enormous tax consequences, such as the existence and/or applicable depreciation methods. Some jurisdictions may treat a certain type of fixtures differently than most fixtures, this type of fixture which gets treated different is often referred as a trade fixture (also, referred to a “chattel fixture”). A trade fixture is often created by a tenant installing a chattel on the leased premises for the tenant’s business use, depending on the jurisdiction if a trade fixture cannot be easily removed, then it becomes part of the property, but tenant would often retain a personal property right to that chattel.


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