Question:
Should an owned furnace and central air conditioner into the deal?
Do you list them as ‘chattels included’? Or do you just assume that if not listed as a rental item they are included as fixtures?
Answer:
I have never, ever heard of a furnace or central air conditioning system not being a fixture. They are always fixtures. The only exception is if they are still in the truck on the driveway. It’s foolhardy to call them “chattels” and then say that they are included.
This is the case whether or not they are rented. That’s irrelevant.
The odd time, a pop-in window a/c unit might be a chattel.
There is a legal obligation on the part of the Listing agent to determine if there are any rental items to be assumed or alternatively to be paid off. This is part of the Listing process. Kindly refer to series 820 Forms.
If there is a big payout, then be sure that you have your Seller client accept this obligation with full knowledge. That’s Form 128.
Brian Madigan LL.B., Broker