A fixture is any previously movable chattel, or property other than real property, that becomes part of real property due to an attachment between the two. For example, a brick stove built into the wall of a restaurant would be a fixture of that restaurant.
When real property is transferred from one owner to another, its fixtures are transferred along with it. Additionally, a tenant cannot remove and take possession of the fixtures of real property when their lease has ended. That said, trade fixtures, or fixtures installed by a tenant for the purposes of doing business are considered property of the tenant and can be removed once the lease has ended.
Whether or not a given item is considered a fixture, trade fixture, or chattel depends on the specific facts and circumstances surrounding it. In making this determination, a court will consider how attached the item is to the real property, how related the item is to the purpose of the real property, and any intention to create a fixture (see: Rothermich v. Union Planters Nat. Bank).
[Last updated in January of 2023 by the Wex Definitions Team]