Willie Is Selling His Home

question 70

Essay

Willie is selling his home. As he starts the moving process, he is wondering what he may take with him and what he must leave behind. Assume that the contract doesn't specifically list individual items and simply says that he must leave all fixtures. In particular he is wondering if he can take the following: his brand new refrigerator; glued carpeting in his basement; the 5- by 7-foot handmade Oriental rug in his den, and the shelving in his garage. Since you have taken a law class, he asks you for your advice. What should you tell him?

---

Definitions:

Mutual Fund

A financial tool that combines money from various investors to invest in a variety of assets including stocks, bonds, and money market instruments.

Turnover Ratio

A measure of the trading activity in a portfolio, indicating how often assets within the portfolio are bought and sold over a specific period.

Average Daily Assets

A measure used in finance to calculate the average value of assets held by a fund or company over a specific period.

Mutual Fund

An investment vehicle made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments, and other assets.