HotelDel DownTown Sunset

Greetings from Jennifer Ross -  Realtor
 
What Is A Fixture?  
 
What is a fixture and what is not a fixture is the basis for many real estate disputes.
 
When I take a listing, I walk through the home with the seller to discuss fixtures. If personal property is affixed or fastened to real estate, it becomes a fixture. Fixtures become real property when they are attached to the property.
If the seller has a certain affection for a fixture, I suggest the seller remove it and, if necessary, replace it. If a buyer never sees it, the buyer won't want it. Soon as you call attention to a fixture and tell the buyer they can't have it, they'll covet it. It's just human nature, quirky as that may sound. 
 
People become attached to the strangest things - such as drapes. Typically, if you can remove window coverings by sliding them off a rod such as curtains or drapes, those window coverings are not considered a fixture. However, curtain rods, blinds and window shades are fixtures.

How to Determine if Personal Property is a Fixture
Every state has its own guidelines for what constitutes a fixture, but here are the five tests California courts use to determine what is a fixture and what is not. Not every test needs to be met.
It's called M-A-R-I-A.

Method of attachment. Is the item permanently affixed to the wall, ceiling or flooring by using nails, glue, cement, pipes, or screws? Even if you can easily remove it, the method used to attach it might make it a fixture. For example, ceiling lights, although attached by wires, can be removed, but the lights are a fixture.
Adaptability. If the item becomes an integral part of the home, it cannot be removed. For example, a floating laminate floor is a fixture, even though it is snapped together. One could argue that a built-in Sub Zero refrigerator is considered a fixture, although it can be unplugged, because it fits inside a specified space.
Relationship of the parties. If the dispute is between tenant and landlord, the tenant is likely to win. If the dispute is between buyer and seller, the buyer is likely to prevail.
Intention of party when the item was attached. When the installation took place, if the intent was to make the item a permanent attachment, for example, a built-in bookcase, the item is a fixture.
Agreement between the parties. Read your purchase contract. Most contain a clause that expressly defines items included in the sale and ordinarily state "All existing fixtures and fittings that are attached to the property."
 
How to Ensure That Fixtures Remain with the House
Sellers and buyers should specifically state in the purchase offer which items will stay with the house and which will go, especially if there could be confusion over a fixture. Items such as kitchen appliances, bookshelves, portable spas, water fountains, and washers and dryers, should be noted in the contract as included or excluded from sale.
 
In California, many buyers are confused about koi ponds. Do the fish stay or go? The pond is a fixture, but the fish can be carried away in a bucket of water. Some koi are kept as pets. If a buyer wants to negotiate for the koi, buyers are advised to identify the type (some can cost $3,000 a piece) count the koi and write the fish into the contract.
 
For legal questions, please consult a real estate lawyer.
 
Exerpt from About.com
How To File a Tax Extension
 
Filing an extension is super easy. I tell you how to do it. Time Required: 15 minutes.
But first, let's talk about what an extension is and what it is not. An "Extension" is a way to ask the IRS for more time to file your tax return. The deadline to file your 2009 return is April 15, 2010. Form 4868 will extend the deadline by six months. With an extension, your deadline to file a tax return is October 15, 2010. However, an extension of time to file is not an extension of time to pay. That means, if you owe, you should pay the IRS by the April 15th deadline to avoid penalties and interest. For more filing deadlines, see the Tax Calendar.
 
Here's How:
 1.Create a rough draft of your tax return. Get an idea of approximately how much you owe. If you need a very quick and reasonably accurate estimate of what you might owe (or have as a refund), take a look at these very helpful and pretty easy to use tax estimating applets.
2.Download the Automatic Extension Form 4868 (PDF). Fill it out, and write a check for the approximate amount of money you owe.
3.Mail the extension form with your check. Make sure you mail it by April 15th. Here's a list of mailing addresses for sending Form 4868 to the IRS.
4.If you don't make it to the post office in time to mail your Form 4868, you can file your extension online. Just make sure you e-file your extension before midnight. And since it takes about five to ten minutes to file the extension online, you should give yourself enough time to finish before midnight.

Tips:
1.If you owe the IRS, you must pay your tax in full by April 15th. If you do not pay your tax in full, the IRS will calculate penalties and interest on your outstanding balance. The penalty for not filing is 5% per month up to a maximum penalty of 25% of the balance due. By contrast, the failure to pay penalty is 0.5% per month, plus a monthly interest charge. The bottom line? If you think you owe, file an extension!
2.Need an even easier way to file your extension and pay your taxes? Pay your tax using your credit card and file your Form 4868 all at the same
time. There are two IRS-approved credit card services. One is Link2Gov which offers extension payments through Pay1040. The other IRS-approved payment service is Official Payments. Both companies charge a 2.49% convenience fee for using their service.
3.You can also file your extension using your tax preparation software. Get instructions for how to file an extension using TaxAct, TurboTax, and TaxCut.
4.You can no longer file an extension using the IRS TeleFile system. TeleFile was a telephone-based service used to file extensions and other tax-related forms. TeleFile was discontinued in 2005.
5.You no longer need to request a 2nd extension (old IRS Form 2688). This form was used to request an additional 2-month extension when the first extension provided only a 4-month extension of time. Now that Form 4868 provides an automatic 6-month extension, you will no longer need to submit Form 2688.
 
Courtesy of About.com
Famous Quotes 
 
"Our imagination is the only limit to what we can hope to have in the future."
 Charles F. Kettering
Website of the Week
 
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Each morning, a wide variety of international newspapers electronically submit their front pages to the Newseum to be part of Today's Front Pages. Each page is displayed in its original, unedited form, and links to the newspaper's Web site and to a PDF file of the page are included. A magnifier tool allows users to zoom in on any part of the page. An archive chronicles events of historical significance such as the war in Iraq, the 2008 presidential election, President Obama's first 100 days in office, and economic news.
As always, feel free to give me a call 800-913-7677 with your real estate needs.  I appreciate your referrals. 

 
Signature

Jenn

Jennifer Ross

 
Experience Counts!
Over 21 years in
Real Estate sales
Serving all of San Diego
 
Office: 800.913.7677
Direct: 619.985.7340
JennRossRealtor@gmail.com
 
 

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