Final answer:
In real estate transactions, personal property, such as a ceiling light fixture, that the seller wishes to remove must be identified in the listing agreement. Fixtures are usually expected to stay with the property unless otherwise specified.
Step-by-step explanation:
In real estate transactions, the distinction between personal property and fixtures is crucial. Examples of physical items that might be involved in such transactions include a house, land, or various collectibles. Personal property refers to items that the property owner can remove and take with them when they sell the property, while fixtures are items that are considered part of the property and are expected to remain with the property when it is sold.
A seller may take away personal property from the property; therefore, these items must be identified in the listing agreement. Among the options provided:
- A) The door key is typically not considered personal property as it is generally required to transfer access to the new owner.
- B) Stacked firewood may be considered personal property if not specifically listed in the agreement to stay.
- C) A ceiling light fixture is generally a fixture, but if the seller wishes to take it, it must be specified in the listing agreement.
- D) A built-in dishwasher is typically considered a fixture and expected to remain unless specified otherwise.
The correct answer is C) a ceiling light fixture. A ceiling light fixture, unless specifically noted in the listing agreement as an item that does not convey, is considered a fixture and part of the real estate. If the seller intends to remove it and take it with them, it must be clearly stated in the agreement to avoid any confusion or disputes.