GEORGIA REAL ESTATE EXAM STUDY SET QUESTIONS AND ANSWERS, 100% ACCURATE, VERIFIED.| latest update 2024/25|

GEORGIA REAL ESTATE EXAM STUDY SET QUESTIONS AND ANSWERS, 100% ACCURATE, VERIFIED. Best describes parcel of land - -the surface of the earth extending down to the center and upward to infinity Determining if Fixture, NOT considered - -Value of item Characteristic in difference btwn personal prop. from real property. - -mobility When used in deed or other RE doc., legal description describes only land bc - -buildings/other improvements considered part of the real estate Item was personal property attached to and become part of the real property is known as - -Fixture Crops planted/harvested ea year are - -personal property emblements fructus insustriales Most Distinctive physical characteristics of land is - -immobility Law of Capture refers to - -process of removing oil and gas from the land All of the following are true about a trade fixture except - -it may be removed only after the lease expires Dawson sold 500 acre farm to Harris, reserved the right to drill for oil. Dawson arrives with drillling equip., denied access to land. Who correctly interpreted agreement? - -Dawson, has implied right of entry Township contains how many sq miles - -36 Following about air rights is true? - -The owner can sell air rights and still retain subsurface and surface rights Custom made storm window considered fixture bc of - -Its adaptation to the building which is attached Method of land description which identifies parcel by specifying its boundary lines along with the terminal points and the bearing of each side is known as - -metes and bounds Base point from which height or depth can be measured to describe air rights or subsurface rights is a - -datum Private Landowner has right to - -Disinherit heirs In real estate law, word fee is closest in meaning to - -an estate of inheritance Bob gives an estate to Jim for the life of Sue. What is true - -Jim has an estate Pur Autre Vie Jones, is a life tenant, grants Smith easement across Jones' land. Later Jones dies.... Easement will - - terminate Characteristics of Easements - -creates an interest that may be protected from 3rd party interference can be created by coveyance incorporeal right in the land of another Conventional Life estate characteristics - -owner is life tenant owner does not have to die for estate to end can be sold, leased, mortgaged Right of survivorship associated w/ - -tenancy by entireties/Joint Tenancy Joint tenancy changed to tenancy in common by - -one of two joint tenants selling his/her interest to 3rd person PITT, Required to create - -possession, interest, time, title. RIght of survivorship NOT compatible with Joint Tenancy - -Probate The one unity in a tenancy in common ownership - -Possession Married woman and unmarried man may not own real estate as - -tenants by the entireties Phil, Tom, Bill from a partnership to buy invest. property duplex. Phil/Tom invest 15k. Bill agrees to accept all management resonsibilities and liability for partnership. What kind of partnership did they form? - -Limited Creditor may seek satisfaction of debt from personal assets of each co-owner of - -general partnership Form of ownership that involves one party holding title for the benefit of another who retains full control over the property is a - -land trust Deed made and delivered but not recorded is - -valid between grantor and grantee but not valid against recorded claims of a subsequent purchaser who records the deed without having actual notice of any unrecorded interests Deed acknowledged by - -grantor Forged deed is - -void Ms. Jones dies leaving no will. No heirs. Her estate would - -revert to state government Donation of real estate for public use is known as -