Legal Issues Related to Buying and Developing a Parcel of Land
Trevor Hammell wishes to form a real estate syndication for the purpose of buying and developing a parcel of land located near the announced location of a multi regional shopping mall. Trevor has in mind that he will sell limited partnership interests in the firm to people in Arizona (where the mall is located) and in several other nearby states. Trevor is curious about the nature and types of laws that will affect his proposed project. How would you advise Trevor? Provide him with a list of relevant laws.
Fixture or Personal Property
Robert S. Custer owns approximately 97 acres in Cumberland Valley Township, Bedford County, where he operates a nursery business. In March 2001, Custer purchased an electric generator for $1,500. Custer had the generator installed on a concrete pad near his greenhouses and then had a steel shed type of enclosure installed around the pad and generator. The generator is bolted to the concrete to prevent vibrations and reduce noise. The generator is needed for back-up electricity for heating the greenhouses should an outage occur. Custer has run into financial difficulties and the bank is foreclosing on the land on which the nursery is located. Custer is vacating the premises and wants to take the generator with him. Is the generator a fixture or personal property? Using information from the reading, provide some analysis explaining why the generator is a fixture. Then provide analysis explaining why the generator is personal property. Discuss your opinion regarding whether the generator is a fixture.