To Convey or Not Convey…It’s all in the Attachment
August 26, 2011 by Gail Boston · Leave a Comment
In the transfer of property, home buyers and sellers need to know the specifics of what automatically transfers to the new owners.
The term “conveys” means the legal transfer of ownership to another. Does a bathroom mirror convey to the new home owner? You’d think so. Right? Not necessarily if it hangs from a picture hook. Does the refrigerator automatically move with the home seller? Not if it’s built in. To determine what should convey, consider the physical attachment. Is it permanently affixed, like an oven with vents? Or, can it be easily unplugged and removed– as with a refrigerator? The deciding factor is jameshallison casino the permanence of the attachment, not functionality, so do not assume. For clarity during the buying process, it’s best to include questionable items in the offer contract and confirm compliance during the final walk-thru.
At the beginning of the home sale process, sellers should prepare a list of items to exclude. This thoughtful list becomes part of the information exchange about the home. Home sellers with emotional attachments to objects in the home should do some advance preparation. If an heirloom is irreplaceable, remove it and put a substitute in place before the photo shoot. Swap out those $600 a yard Scalamandre drapes as preparation for a sale. Pictures should never lie! And home sellers; please don’t dig up the garden after the contract has been executed.
It should be noted that for the right price, some sellers are willing to part with excluded items. These are sold separately as part of the negotiation. When it comes to conveyance, consider the attachment, both physical and emotional.