Addendum

TXR 1954 — Addendum Regarding Fixture Leases

This addendum addresses leased fixtures attached to a property being sold -- items like solar panels, propane tanks, water softeners, and security systems that the seller does not own but leases. It specifies which fixture leases the buyer will assume at closing, allocates the cost of assumption bet

Source: TXR
Form Number: 1954
Category: Addendum
Revised: November 7, 2022

Used For

Residential Sales, Farm & Ranch

Form Outline

The TXR 1954 form is organized into the following sections:

  1. Header and Property Identification
    Identifies the form as a TREC-promulgated addendum regarding fixture leases and specifies the property address to tie it to the main contract.
  2. Leased Fixtures Identification and Disposition
    Defines which fixtures on the property are leased (not owned by the seller), identifies which fixture leases the buyer will assume at closing, allocates assumption costs between the parties, and addresses removal of leased fixtures the buyer does not assume.
  3. Delivery of Fixture Leases
    Addresses whether the buyer has already received copies of the fixture leases, establishes a timeline for the seller to provide them if not, and grants the buyer a termination right upon review. Also covers oral fixture leases.
  4. Liens and Security Interests
    Requires that at closing, there be no liens or security interests against leased fixtures except for those covered by fixture leases the buyer agrees to assume.
  5. Notice to Parties
    Advises seller and buyer to consult with the lessor and their attorneys regarding the assignment, assumption, or termination of any fixture leases.
  6. Signatures
    Provides signature lines for both buyers and both sellers to execute the addendum.

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