Property Ownership
In Montana, when personal property becomes permanently attached to real property it is called:
AAn encumbrance
BA fixture✓ Correct
CA chattel
DAn appurtenance
Explanation
A fixture is personal property that has been permanently attached to real property and becomes part of the real property. In Montana, fixtures are generally included in a real estate sale unless specifically excluded in the contract.
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Key Terms to Know
Encumbrance
Any claim, lien, charge, or liability attached to real property that affects its value or limits its use.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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