The new Addendum Regarding Fixture Leases is among the changes approved by the Texas Real Estate Commission that are effective April 1. This addendum makes clear that all rights to leased fixtures—such as propane tanks and solar panels—are governed by the fixture leases and states whether the buyer is assuming the fixture lease or if the seller will remove the fixtures.
The Texas Real Estate Research Center published an explanation of fixture leases, which covers:
- What is a fixture?
- What is a fixture lease?
- What happens to the lease when a home is sold?
- How to use the new addendum.