Definition from Nolo’s Plain-English Law Dictionary
1) In real estate, when equipment, shelving, or furniture is solidly incorporated into a structure, such as bolted to the floor or wired to the ceiling (and not capable of being removed without damage to the structure). If an item is so attached it probably has become a part of the real estate and is called a fixture. 2) In creditor lawsuits, refers to money or property that is seized by court order, based on evidence that the owner of the money or property may soon depart to avoid payment of the debt.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:11 pm