VALUATION AND CONDEMNATION PROBLEMS INVOLVING TRADE FIXTURES

The suggestion is made that the common law tests of when trade fixtures and equipment became a part of the realty, for purposes inter alia, or a mortgagor-mortgagee, lessor-lessee, or a buyer-seller relationship, have limited application to when it is claimed that such fixtures were, or were not condemned. The common law and cases involving annexation, adaptation, and intention are discussed, and a table is used to explain modern fixture appraisal. Cases of condemnation of an owner's fixtures and condemnation of a tenant's fixtures are reviewed. Discussion of the measure of damages focuses on enhancement of value and the unit rule. The common law tests for the determination of fixtures attempted to resolve conflicting status claims in disputed items of property. Nevertheless the same tests have been applied in condemnation proceedings. The modern fixture appraisal determines the economic consequences arising because of a condemnation to machinery, equipment, and fixtures. The test whether an owners fixtures have been condemned as part of the real estate should be whether the fixtures will loose substantially all of their value on removal from the condemned premises. The test, whether a tenants fixtures which have been condemned will loose substantially, is determined on a similar basis.

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• Supplemental Notes:
  • A supplement to this paper by J.C. Vance was published in Addendum 3, December 1982, pp 660-S1 through 660-S10.
• Corporate Authors:

  Transportation Research Board

  500 Fifth Street, NW
  Washington, DC  United States  20001
• Authors:
  • Snitzer, E L
• Publication Date: 1976

Language

• English

Media Info

• Features: Appendices; Tables;
• Pagination: p. 615-659
• Serial:
  • Selected Studies in Highway Law
  • Volume: 2
  • Publisher: Transportation Research Board

Subject/Index Terms

• TRT Terms: Laws; Machinery; Ownership; Present value; Property condemnation; Tenants
• Uncontrolled Terms: Values
• Old TRIS Terms: Common law; Condemnation; Fixtures
• Subject Areas: Highways; Law;

Filing Info

• Accession Number: 00148915
• Record Type: Publication
• Files: TRIS, TRB
• Created Date: Aug 28 1998 12:00AM