New rules concerning capital allowances on the disposal of fixtures (first announced in 2011) are now in full force. The changes, which are procedural and impose additional formalities, are:
- Mandatory pooling (which...more
The law distinguishes between chattels and fixtures. A chattel is movable property. A fixture is a chattel that has been fixed or attached and can no longer be easily moved. For example, an arm-chair would be a chattel,...more
Many commercial leases provide that other than a tenant’s own trade fixtures and merchandise, pretty well everything else that the tenant installs in the premises is considered to be a leasehold improvement. Moreover, all...more
It’s not often that the law expects people to insure property they neither own nor control, but the 2010 amendments to the Common Interest Ownership Act (CIOA) do exactly that by requiring most associations to insure...more
Is Your Awning Personal Property or Real Estate: Who Decides?
Is an awning, HVAC component or entire building classified as personal property or real estate? The law honors and allows landlords, tenants and suppliers...more
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