Which of the following is TRUE about the transfer of residential property?

The statement about fixtures needing to be explicitly excluded if the seller does not intend to convey them, while personal property must be included for the buyer to receive it, accurately reflects the principles of real estate transactions. Fixtures—items that are attached to the property and are considered a part of the real estate—automatically transfer with the sale unless the seller specifies otherwise. This means that if there are fixtures the seller does not want to include in the sale, they need to explicitly indicate this in the contract to avoid confusion.

On the other hand, personal property (which could include items such as furniture, appliances, etc.) typically does not automatically transfer with real estate unless it is explicitly included in the sale agreement. Therefore, for the buyer to receive any personal property, it must be clearly stated in the transaction as part of the sale. Thus, the statement conveys the essential nature of how fixtures and personal property should be handled during a transfer of residential property, making it the correct choice.