trade fixture

trade fixture

n. a piece of equipment on or attached to the real estate which is used in a trade or business. Trade fixtures differ from other fixtures in that they may be removed from the real estate (even if attached) at the end of the tenancy of the business, while ordinary fixtures attached to the real estate become part of the real estate. The business tenant must compensate the owner for any damages due to removal of trade fixtures or repair such damage. (See: trade, fixture)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
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Craig David the pub cat has been a Free Trade fixture for four years.
A trade fixture is a piece of equipment on or attached to the real estate which is used in a trade or business.
One issue becoming more and more prevalent in today's landlord/tenant disputes is whether something is a "fixture" or a "trade fixture." The resolution of this issue can determine whether the tenant or the landlord gets to keep the "stuff." This is an issue because, generally under common law, once something becomes a fixture, it belongs to the landlord.
The authors quote The Appraisal of Real Estate's criteria for determining whether an item is a trade fixture, which is personal property regardless of how it is affixed, or real property.
To decide whether an item is a trade fixture, and therefore personal property, or part of the real estate, courts often use the following criteria.
Trade Fixture's bins are exclusively "load-thru-top, dispense-thru-bottom" models.
The sale includes the cafe's Art Nouveau trade fixtures, fittings and furnishings and all items associated with the Willow Tea Rooms brand.
In return for a premium of PS79,000, our client will lease the business with all trade fixtures and fittings, which are considerable and in very good condition, as the restaurant has only traded for less than one year.
Supreme Court Justice Martin Shulman has ruled that three foodservice tenants that leased space in the building and were displaced by the condemnation, can recover damages from the MTA for the value of trade fixtures lost in the condemnation--approximately $15 million, according to the tenants.
Guide Note 5 states: "When the scope of work includes an appraisal of personal property, trade fixtures or intangible items, competency in personal property appraisal or business appraisal is required."