Personal property vs. fixtures in OREF Sale Agreements—what’s the difference?

Q: What is the difference between “Personal Property” and “Fixtures” in the OREF Sale Agreements?

A: “Personal property” is movable property, such as furniture, pictures, and hoses. “Fixtures” were personal property at one time, but now they are items attached to the structure in a way that indicates an intent that they stay with the property.

In the OREF Sale Agreements, Section 2 – Attached Items and Personal Property – has recently undergone a complete overhaul. The goal of the rewrite was to clarify the differences between attached items, which include fixtures and system components, and personal property.

Section 2.1 – was renamed as “Attached Items.”  It includes a list of 3 different categories of attached items and examples of what those items might be. Category a) refers to fixtures, meaning items included as part of the sale because they are affixed to the property. Category b) refers to system components. These components may or may not also be fixtures, but they are integral for the functioning of the features included with the property. Category c) includes a list of other attached items on the property that are included in the sale. Fixtures are included with the sale of real property unless specifically excluded.

Section 2.2 – “Personal Property” details which items are considered personal property and are not included in the sale unless identified as included in this section. There are a few examples listed, then a blank line is provided for the buyer to list those personal property items they would like included in the transaction.

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