Sample Test: Georgia Practice Exam
A farmer temporarily installs produce coolers in a leased farm stand in order
to prevent spoilage. The coolers would be considered which of the
following?
A. Trade fixtures that are real property.
B. Trade fixtures that are personal property.
C. Temporary real property.
D. Emblements. Correct answers Trade fixtures that are personal property.
Property can be converted from real to personal property and from personal
property to real property by means of which processes, respectively?
a. Assemblage and plottage.
b. Application and dissolution.
C. Severance and affixing.
d. Planting and harvesting. Correct answers Severance and affixing.
The highest form of ownership interest one can acquire in real estate is the
A. legal life estate.
B. conventional life estate.
C. defeasible fee simple estate.
D. absolute fee simple estate. Correct answers absolute fee simple estate.
The distinguishing feature of a defeasible fee simple estate is that
A. it can be passed on to heirs.
b. it has no restrictions on use.
C. the estate may revert to a grantor or heirs if the prescribed use changes.
,d. it is of unlimited duration. Correct answers the estate may revert to a
grantor or heirs if the
prescribed use changes
Maria acquires a property from her uncle Alfonso. When Maria dies, the
estate will pass to Alfonso's other niece, Serena. The type of estate that
Maria has in the property is a
а. conventional life estate.
b. legal life estate.
C. fee simple defeasible estate.
d. tenancy by the entireties. Correct answers conventional life estate.
One difference between a cooperative estate and a condominium estate is
that
a.a condominium owner owns a unit of air space whereas the co-op
owner owns a proprietary lease.
b. a condominium sale adversely affects other unit owners.
c.the coop owner owns stock and a freehold real estate interest
whereas the condominium owner simply a proprietary lease.
d.the condominium owner owns the common elements and the airspace
whereas the coop owner only owns the apartment. Correct answers a
condominium owner owns a unit of air space whereas the co-op owner
owns a proprietary lease.
Who are the essential parties involved in an estate in trust?
e. Owner, trustor and lawyer.
f. Owner, trustor and trustee.
g. I trustee, title company, and beneficiary.
D. Trustor, trustee and beneficiary. Correct answers Trustor, trustee and
beneficiary.
A condominium owner enjoys a
h. share in an association that owns one's apartment.
i. tenancy in common interest in airspace and common areas of the
property.
, c. fee simple ownership of the airspace in a unit and an undivided share
of the entire property's common areas.
d. fee simple ownership of a pro rata share of the entire property. Correct
answers fee simple ownership of the airspace in a unit and an undivided
share of the entire property's common areas.
With various types of junior liens, the order of payment priority is generally
established according to
a. the date of recordation.
b. what form of tax is in question.
c. the order of disbursement.
d.whether the lien was subordinated. Correct answers the date of
recordation What is a lien-theory state in contrast to a title-theory
state?
e. A state in which liens are given priority over other encumbrances.
f.A state in which a mortgagor retains title to the property when a
mortgage lien is created.
g.A state in which the holder of a mortgage lien receives title to the
mortgaged property until the debt is satisfied.
D. A state in which liens must be recorded to be enforceable. Correct
answers A state in which a mortgagor retains title to the property when a
mortgage lien is created.
A property owner has an easement appurtenant on her property. One day
the property is sold to another party who is opposed to the easement.
Following the closing, this particular form of
easement
a. terminates.
b.transfers with the property.
c. transfers with the owner to a new property.
d. becomes a license on the property. Correct answers transfers with the
property. What fundamental legal purpose is fulfilled by title records?
A farmer temporarily installs produce coolers in a leased farm stand in order
to prevent spoilage. The coolers would be considered which of the
following?
A. Trade fixtures that are real property.
B. Trade fixtures that are personal property.
C. Temporary real property.
D. Emblements. Correct answers Trade fixtures that are personal property.
Property can be converted from real to personal property and from personal
property to real property by means of which processes, respectively?
a. Assemblage and plottage.
b. Application and dissolution.
C. Severance and affixing.
d. Planting and harvesting. Correct answers Severance and affixing.
The highest form of ownership interest one can acquire in real estate is the
A. legal life estate.
B. conventional life estate.
C. defeasible fee simple estate.
D. absolute fee simple estate. Correct answers absolute fee simple estate.
The distinguishing feature of a defeasible fee simple estate is that
A. it can be passed on to heirs.
b. it has no restrictions on use.
C. the estate may revert to a grantor or heirs if the prescribed use changes.
,d. it is of unlimited duration. Correct answers the estate may revert to a
grantor or heirs if the
prescribed use changes
Maria acquires a property from her uncle Alfonso. When Maria dies, the
estate will pass to Alfonso's other niece, Serena. The type of estate that
Maria has in the property is a
а. conventional life estate.
b. legal life estate.
C. fee simple defeasible estate.
d. tenancy by the entireties. Correct answers conventional life estate.
One difference between a cooperative estate and a condominium estate is
that
a.a condominium owner owns a unit of air space whereas the co-op
owner owns a proprietary lease.
b. a condominium sale adversely affects other unit owners.
c.the coop owner owns stock and a freehold real estate interest
whereas the condominium owner simply a proprietary lease.
d.the condominium owner owns the common elements and the airspace
whereas the coop owner only owns the apartment. Correct answers a
condominium owner owns a unit of air space whereas the co-op owner
owns a proprietary lease.
Who are the essential parties involved in an estate in trust?
e. Owner, trustor and lawyer.
f. Owner, trustor and trustee.
g. I trustee, title company, and beneficiary.
D. Trustor, trustee and beneficiary. Correct answers Trustor, trustee and
beneficiary.
A condominium owner enjoys a
h. share in an association that owns one's apartment.
i. tenancy in common interest in airspace and common areas of the
property.
, c. fee simple ownership of the airspace in a unit and an undivided share
of the entire property's common areas.
d. fee simple ownership of a pro rata share of the entire property. Correct
answers fee simple ownership of the airspace in a unit and an undivided
share of the entire property's common areas.
With various types of junior liens, the order of payment priority is generally
established according to
a. the date of recordation.
b. what form of tax is in question.
c. the order of disbursement.
d.whether the lien was subordinated. Correct answers the date of
recordation What is a lien-theory state in contrast to a title-theory
state?
e. A state in which liens are given priority over other encumbrances.
f.A state in which a mortgagor retains title to the property when a
mortgage lien is created.
g.A state in which the holder of a mortgage lien receives title to the
mortgaged property until the debt is satisfied.
D. A state in which liens must be recorded to be enforceable. Correct
answers A state in which a mortgagor retains title to the property when a
mortgage lien is created.
A property owner has an easement appurtenant on her property. One day
the property is sold to another party who is opposed to the easement.
Following the closing, this particular form of
easement
a. terminates.
b.transfers with the property.
c. transfers with the owner to a new property.
d. becomes a license on the property. Correct answers transfers with the
property. What fundamental legal purpose is fulfilled by title records?
