Georgia Real Estate Exam (100% correct)

Deed correct answers Document used to transfer title. Title correct answers Land+ deed, (who are the owners and what are their rights?) Real Estate correct answers Land+appurtenances (right or improvement attached to the land) Two types of characteristics of land: correct answers Physical & economic What are the physical characteristics of land? correct answers Immovable, indestructible,unique(non-homogenous) What are the economic characteristics of land? correct answers Scarcity, improvable, permanence of investment; situs Situs correct answers Property location Non-homogenous correct answers Unique Personal propery correct answers Anything not real, Bill of sale (doc) chattel Chattel correct answers Personal property Bill of sale correct answers Document used in personal property Severance vs. Fixture correct answers Test MIAA= Method of attachment, Intention of the attaching parties, Adaption of the articles (house keys), Agreement (sellers disclosure statement) Trade fixture correct answers Personal property of the commercial tenant Enblements correct answers Crops, fructus industriales Severalty correct answers One and only one (sole) owner Concurrent correct answers More than one owner Tenancy in common correct answers Interest unequal, separate deeds, unity of possession, inheritable, Ga Joint tenancy correct answers (TTIP) Time: all parties must take title at the same time, Title: all parties on one deed. Interest: must be equal, unity of Possession: undivided interest. Right of survivorship (uninheritable) voluntary, Ga Tenancy by the entireties correct answers Husband/wife TTIP, not ga