Escrow & Title
In Oklahoma, a fixture that is attached to the property and not specifically excluded from the purchase contract is:
AAlways removable by the seller up until closing
BConsidered real property that transfers with the deed unless specifically excluded in the purchase contract✓ Correct
CAlways personal property regardless of attachment
DSubject to separate negotiation with the lender
Explanation
A fixture is personal property that has become permanently attached to real property and is treated as part of the real estate. In Oklahoma, fixtures pass with the property unless explicitly excluded in the purchase contract.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
Closing CostsFees and expenses paid by the buyer and/or seller at the closing of a real estate transaction, in addition to the property's purchase price.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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