Definition
Accession in real estate is the legal term used to describe any additions or improvements to a property that are a result of incorporating fixtures or natural features like alluvial deposits. These increases in property affect the economic value and can stem from both natural processes and human activities.
Examples
1. Fixtures Addition
A restaurant lease expires, and the restauranteur leaves counters and bar stools behind. These items become a part of the property by accession and add value to it.
2. Alluvial Deposits
Real estate adjoining a river can be legally enlarged by soil deposited by the river, known as alluvium, resulting in an increase in property size and potentially, its value.
Frequently Asked Questions (FAQs)
1. What kinds of fixtures can cause accession to property?
Fixtures such as cabinets, built-in appliances, and any installations that are permanently attached to a property can cause accession.
2. How does alluvium contribute to accession?
Alluvium refers to the sands, silt, clay, and other material deposited by flowing water in a river, which can enlarge a property’s land area over time.
3. Is accession always beneficial?
While often beneficial by increasing property value, accession can sometimes lead to disputes, particularly when natural processes affect property boundaries.
4. Who owns the property enhancements in the case of accession?
The owner of the land typically owns any enhancements or additions to the property that are a result of accession.
5. Are all property improvements considered accession?
No, property improvements must either be permanently annexed fixtures or be made through natural processes like alluvial deposits to be considered accession.
Alluvium
Material such as soil and sediment deposited by rivers, often resulting in the legal enlargement of nearby property.
Fixtures
Items like appliances, cabinets, or machinery permanently attached to a building or land, enhancing its value and considered part of property accession.
Annexation
The process of attaching something to a larger entity; in real estate, it refers to incorporating new lands or additions like fixtures to the existing property.
Online Resources
A comprehensive guide on what accession entails in financial and legal terms.
Explores legal definitions and implications of accession, with real-world examples.
Detailed overview of legal viewpoints regarding fixtures and their role in accession.
References
- Black’s Law Dictionary by Bryan A. Garner, 11th edition.
- Real Estate Law by Marianne Jennings, 10th edition
Suggested Books for Further Studies
- “Real Estate Law” by Robert J. Aalberts
- “Principles of Real Estate Practice” by Stephen Mettling and David Cusic
- “Modern Real Estate Practice” by Fillmore Galaty, Wellington J. Allaway, and Robert C. Kyle
Real Estate Basics: Accession Fundamentals Quiz
### What is accession in real estate?
- [x] Accession refers to additions to a property through annexing fixtures or alluvial deposits.
- [ ] It is the process of selling property at a profit.
- [ ] It means legally subdividing land.
- [ ] The action of taking possession of abandoned property.
> **Explanation:** Accession in real estate is when property is enhanced by adding fixtures or through natural land expansions like alluvial deposits.
### What can cause accession in a property that borders a river?
- [ ] Construction of a new building
- [x] Deposition of soil by the river
- [ ] Planting new trees
- [ ] Demolition activities
> **Explanation:** Property bordering a river is often enlarged through alluvium, the deposition of soil and sediment by the river.
### Can mobile furniture left in a leased property be considered accession?
- [ ] Yes, because it adds value.
- [ ] Yes, if it's expensive.
- [ ] No, because it's not permanently attached.
- [x] No, because only fixtures that are permanently attached count.
> **Explanation:** Only items permanently affixed to the property such as fixtures can be considered as accession.
### Accession commonly involves which natural process?
- [ ] Erosion
- [x] Alluvial Deposits
- [ ] Deforestation
- [ ] Urbanization
> **Explanation:** Accession through natural processes often involves alluvial deposits, where sediments expand the land area.
### What legal principle states that additions become part of the original property?
- [ ] Easement
- [x] Accession
- [ ] Adverse possession
- [ ] Encumbrance
> **Explanation:** The legal principle of accession states that additions or improvements made to a property by fixtures or natural accumulations become part of the original property.
### What are examples of fixtures in real estate?
- [x] Built-in cabinets and counters
- [ ] Portable lighting
- [ ] Loose chairs
- [ ] Decorative items
> **Explanation:** Fixtures refer to items like built-in cabinets, counters, or appliances that are permanently attached to the property.
### Who benefits from accession?
- [x] The property owner
- [ ] The tenant
- [ ] Neighborhood association
- [ ] Local government
> **Explanation:** The property owner benefits from accession as it generally increases the total value and area of their property.
### Can all types of natural deposits be considered for accession?
- [ ] Yes, all natural deposits qualify.
- [x] No, mainly soil, silt, and sediment deposits qualify.
- [ ] No, only rock formations qualify.
- [ ] Yes, if they increase property value.
> **Explanation:** Accession primarily includes soil, silt, and sediment deposits from natural sources like rivers, which physically expand the land.
### What is an example of artificial accession?
- [ ] Growth of trees naturally
- [x] Adding a built-in fireplace
- [ ] Natural soil erosion
- [ ] Flooding
> **Explanation:** Adding a built-in fixture like a fireplace is an example of artificial accession as it is a human-made incorporation to the property.
### What happens to items considered part of accession when a property is sold?
- [x] They remain part of the property.
- [ ] They are removed by the previous owner.
- [ ] They are separately appraised.
- [ ] The new owner can choose to keep or discard them.
> **Explanation:** Items that are considered part of accession remain with the property when it is sold because they add value and are legally part of the property.
