200012 Lecture Notes - Lecture 5: Chattel Mortgage, Property Law, Security Interest

• School: UWS
• Department: University of Western Sydney
• Course: 200012
• Professor: anon

Document Summary

A fixture, as a legal concept, means any physical property that is permanently attached (fixed) to real property (usually land) Property not affixed to real property considered chattel property. Generally speaking the test for deciding whether an article is a fixture or a chattel turns on the purpose of attachment. If the purpose was to enhance the land the article is likely a fixture. If the article was affixed to enhance the use of the chattel itself, the article is likely a chattel. Chattel property is converted into a fixture by the process of attachment. For example, if a piece of lumber sits in a lumber yard it is a chattel. If the same lumber is used to build a fence on the land it becomes a fixture to that real property. In many cases, the determination of whether property is a fixture or a chattel turns on the degree to which the property is attached to the land.