A metes and bounds description must contain which of the following?

A.A reference to a recorded subdivision plat map.

B.A baseline reference

.C.A point of beginning (POB).

D.A street address

A property which is owned as tenancy by the entireties is owned by:

A.any two people.

B.husband and wife.

C. people with entire rights to the property

.D.a corporation

B. Husband and wife 

Note: not recognized in GA

Which of the following is an emblement(fructus industriales)?

A.Peaches growing on a peach tree.

B. Kitchen equipment installed by a tenant.

C.A work bench in a garage.  

DA growing crop of tobacco

In Georgia, a contract contains a legal description of the property. Which of the following would NOT be apart of that description? A

.A reference to a land lot and district.

B.The name of the county and state.

C.meridians and baselines.

D.The subdivision name

When a corporation of more than 10 stockholders takes title to property, the corporation would take title:

A.as tenants in common.

B.in joint tenancy.

C.in the names of the stockholders.

D.in severalty

Bailey negotiates to lease a space from Fred to be used as a restaurant. The agreement calls for of $3,000 per month for 7 years. Bailey asks Fred to also install commercial grade kitchen appliances for Baileys use. Fred agrees to do so for a monthly rent of $3,250. At the end of the lease, to whom do the appliances belong?

A. The appliances belong to Fred because he provided them.

B. The appliances belong to Fred because he installed them.

C. The appliances belong to Bailey because he paid for them with increased rent.

D. The appliances belong to Bailey because they are a trade fixture

Trees growing on the property are cut down by the owner. This process is called:

A.severance and the removed trees are real property.

B.severance and the removed trees are personal property.

C.annexation and the removed trees are real property.

D.annexation and the removed trees are personal property

An owner of a life estate with a remainder interest desired to sell their interest. Which of the following statements is correct?

A.A life estate interest cannot be sold.

B.The remainderman would lose their interest if the property is sold.

C.The buyer would receive the same interest the life tenant had.

D.The remainderman would have to sign the listing

Several investors purchased property together, each having an equal ownership interest.

Each co-owner has the right to sell or leave their interest to his or her heirs. How did the investors take title to the real estate?

A. Tenants in common.

B. Joint tenancy with rights of survivorship

.C. Severalty ownership.

D. Tenancy by the entireties

A. Tenants in common 

note: Tenants in common are inheritable (right of survivorship does not apply)

joint tenancy right of survivorship is NOT inheritable

Severalty ownership is sole ownership

tenancy by entireties occurs between husband and wife

Which of the following would be a concurrent estate available in Georgia?

A. Tenants by the entirety.

B. Community property.

C. Joint tenancy.

D. Severalty. 

C. Joint tenancy.

note: When title to a parcel of real estate is held by two or more individuals, those parties are called co-owners or concurrent owner

Joint tenancy is the only form of co-ownership listed accepted in GA.

Severalty is not a form of co-owner ship Ownership in severalty occurs when property is owned by one individual, corporation, or other entity.

In Georgia, which of the following would be considered a sufficient legal description of real property in a sales contract?

A. Street address of the property.

B. Reference to principal meridians and baselines.

C. Reference to townships and sections.

D. Reference to a recorded plat map filed in public records

How would an unmarried couple take ownership to real property if they wanted full ownership immediately upon the death of the other co-owner?

A. Severalty.

B. Tenancy in common.

C. Joint tenancy.

D. Tenancy by the entirety.

C. Joint tenancy

Note: In Joint Tenancy upon death their interest passes to remaining survivors and not heirs via right of survivorship. This is the only answer choice that applies right of survivorship for co-owners that are not married. 

In a trust, legal title to real property is transferred to a person to be held and managed by the person for the benefit of the:

A. trustee.

B. trustor.

C. beneficiary.

D. grantor.

A person who purchases shares of stock in a corporation that owns a building and receives a proprietary lease to a specific unit within the building has purchased a:

A. condominium.

B. cooperative.

C. timeshare.

D. limited partnership.

Several persons own property as tenants in common. One of the owners dies and the heirs want to sell the property, whereas the other owners prefer to retain the property. If the parties cannot reach an agreement, which of the following actions would most likely be taken by the heirs who want to sell?

A. Force the remaining owners to buy his or her interest.

B. File a partition action.

C. File a foreclosure action.

D. File a quiet title action.

The owner deeds a parcel of property to his daughter as a life estate. The life estate states that when the daughter dies, the ownership will transfer to her brother. Which of the following statements concerning the transaction is correct?

A. The brother is the remainderman and will receive fee simple ownership.

B. The brother is the remainderman and will receive a life estate.

C. The brother is the life tenant and will receive fee simple ownership.

D. The brother is the life tenant and will receive a life estate.

Under cooperative ownership the lease that grants occupancy of a specific unit to the stockholder is called a: A. percentage lease.

B. proprietary lease.

C. sublease.

D. net lease

In Georgia, which of the following types of ownership is NOT recognized? (High Yield Q)

A. Joint tenancy.

B. Life estate.

C. Tenancy in common.

D. Tenancy by entirety.

In Georgia, developers of timeshare projects must provide a written statement containing information essential to prospective buyers and the buyer’s right to rescind the contract. This information would be contained in the:

A. purchase and sale agreement.

B. public offering statement.

C. seller’s property disclosure statement.

D. warranty deed. 

It is good business practice to take the legal description from the seller's warranty deed when you get the listing. If the seller does not have a copy of his or her warranty deed, a copy may be found at the county courthouse. In locating a copy of the seller's deed in the record room of the courthouse your first point of reference would be the:

A. plat map.

B. deed book.

C. plat book.

D. grantor-grantee index.

In Georgia, a married couple could hold title to real property together as:

A. an estate in severalty.

B. community property.

C. tenancy by the entirety.

D. tenancy in common

D. tenancy in common

note: tenancy in common is the only form of co-ownership that is also recognized in GA

In Georgia, which of the following is NOT required in a land description?

A. County and state.

B. District and land lot.

C. Section or Militia District.

D. Street address of property

A married couple wants to acquire ownership of property together without the right of survivorship. Which of the following forms of ownership would accomplish this?

A. Estate in severalty.

B. Joint tenancy.

C. Tenancy by the entirety.

D. Tenancy in common.