Florida Broker Practice Exam

Which acronym is used to determine if an item is a fixture?

1. APPI

2. IRMA

3. FIRM

4. RIMA

The correct answer is: IRMA

The acronym used to determine if an item is a fixture is IRMA, which stands for Intent, Relationship, Method, and Adaptation. This guideline helps in assessing whether an item should be classified as a fixture – a permanent part of real estate – rather than as personal property. - Intent refers to the intention of the parties involved regarding the item in question. If the intention was to make the item a permanent part of the property, it may be classified as a fixture. - Relationship considers the relationship between the parties. For instance, items installed by a tenant may be viewed differently than those installed by a property owner, influencing whether the item is a fixture. - Method pertains to how the item is attached to the property. If the item is permanently affixed, it is more likely to be regarded as a fixture. - Adaptation concerns how the item has been tailored or adapted for the specific property. If an item has been significantly altered to fit the property, it strengthens its classification as a fixture. Each component of IRMA plays a crucial role in distinguishing between personal property and fixtures, providing a comprehensive framework for real estate professionals when making such determinations.