What are fixtures in real estate

Assignment Help Business Law and Ethics

Reference no: EM133290698

Assignment:

1. You invite your best friend to your house for a visit. Is he/she an invitee, licensee or trespasser? What are the duties you owe to him/her?

2. Home Depot is scheduled to delivery a refrigerator to your house. The delivery person will use your front stairs to get into the house. Once of the stairs is very unstable and close to falling apart. Is the delivery person an invitee, licensee or trespasser? What are the duties you owe to him/her?

3. Little Timmy from down the street loves your garden and you often find him in your yard checking out your growing vegetables. You don't mind, but you've never given Timmy permission to be in your yard. You spent all weekend digging holes around the garden so you can install a posted fence next weekend after you get home from you week long business trip. Is there anything you should do with the garden while you are away? Why or why not?

4. What are "fixtures" in real estate? What test does the court use to determine if an item is a fixture?

5. Think of a situation in which you would grant a life estate to someone in property that you own. How does that situation differ from renting property to a tenant?

6. What benefits can you see for both the landlord and the tenant for extremely long leases? What are the risks?

Reference no: EM133290698

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