GEORGIA REAL ESTATE STUDY GUIDE COMPLETE 2026-2027 EXAM
PAPER- REVISION QUESTIONS & SOLUTIONS
Estate at Sufferance
An interest in real property held by a tenant who holds over without the consent of the landlord
after the tenant's right of possession has terminated.
Estate for Years
A tenant's interest in real property
(leasehold estate) for a fixed period of time.
Estate from Period to Period
A tenant's interest in real property (leasehold estate) for a certain period of time. Without
proper notice the period is automatically renewed.
Estate
The quality, quantity, nature and extent of ownership interest or rights a person holds in real
property. __________s are either possessory or nonpossessory.
Fee Simple Absolute
An inheritable estate of indefinite duration, without restrictions or conditions to satisfy in order
to retain ownership. It is the most complete ownership of rights in land that one can hold. It is
said to be potentially perpetual.
Fee Simple Determinable
A fee simple estate that automatically ends and goes back to the person who granted the
estate, to their heirs or to a remainderman if named, upon the occurrence or nonoccurrence of
a stated condition.
Fee Simple Estate
An ownership interest in land which is freely inheritable. The estate may be absolute,
determinable or conditional.
Fee Simple Condition Subsequent
A fee simple estate that may be ended by the grantor or the grantor's heirs or a remainderman
if named, upon the occurrence or nonoccurrence of a stated condition.
Freehold Estate
,An ownership interest in land, the duration of which is uncertain. The estate may last forever
(i.e., be inheritable), or its duration may be measured by one person's life.
Future Right
The right to take possession or control of a property in the future (nonpossessory).
General Lien
A lien against all of the property owned by the debtor.
Holdover Tenant
A tenant who remains in possession of leased premises after their right of possession has
ended. Possession may be with or without the landlord's consent.
Homestead Protection
A right which protects a portion of a family's primary residence in the event a creditor forces a
sale to satisfy an outstanding debt. The amount of protection is determined by state law.
Impounds
Monthly payments of taxes and insurance collected by the lender to assure payment of these
items when they become due.
Inchoate Dower
A wife's interest in her husband's property while he is still living.
Incorporeal
An intangible interest in land, such as an easement.
Ingress
Access to a parcel of land.
Inheritance Tax
Tax on property received by will or by inheritance through the probate court.
Injunction
Court ordered requiring a person to whom it is directed to do or refrain from doing a particular
thing. A legal recourse that may be taken against one who violates a restrictive covenant in a
lease or deed.
Involuntary Lien
,A lien permitted by law and recorded without the landowner's consent. The lien may affect only
one particular property, such as a mechanic's lien, or it may affect all the debtor's property, such
as a judgment lien. Also known as a statutory lien.
Judgement
A court's official decision regarding the rights and claims of the parties in a lawsuit. A
_________ in a suit for damages is the amount of indebtedness set by the court.
Laches
Undue delay or failure to exercise one's legal right, resulting in the loss of the ability to exercise
the right.
Landlocked
Land which has no means of access except over neighboring land.
Leasehold Estate
A tenant's rights in real property granted to them by a lease.
Legal Life Estate
A life estate created by state law, the holder of which has a nonpossessory interest in real
property. Legal life estates include dower, curtesy and homestead protection.
Lesser Estate
Lesser Estate • Chapter 2 • An estate is created when a portion of ownership rights
License
An owner's permission for another to use the land for a specific purpose. The permission does
not grant a right in the land but a personal privilege, which is neither transferable nor
inheritable and may be terminated by either party.
Lien
A monetary claim against real estate which services as security for a debt.
Life Estate Pur Autre Vie
A life estate whose duration is measured by the life of someone other than the life tenant.
Life Estate
, A freehold estate (i.e., ownership interest in real property). The indefinite duration of the estate
is measured by the life of some person. Also called Conventional _____________.
Life Tenant
One to whom a life estate is granted; the owner of the estate.
Lis Pendens
Legal notice that a lawsuit is pending, and the outcome could affect the title to certain real
estate.
Mechanic's Lien
Also known as a materialman's lien, a lien created by statue against real property. It exists for
the purpose of securing payment to those persons who have performed work and/or furnished
materials for the improvement, maintenance or repair of real property against which the lien is
recorded.
Mortgage Lien
A monetary claim against a specific property pledged by its owner as security for the repayment
of a loan or other debt.
Nonpossessory Estate
An estate in real property, the possession of which is postponed until a preceding possessory
estate is terminated.
Notice of Completion
A legal notice required in some states in order to perfect a mechanic's lien. The notice lets the
property owner know that certain contracted work has been completed and/or materials
ordered have been supplied.
Ordinary Life Estate
A life estate whose duration is measured by the life of the life tenant.
Party Wall
A fence or wall of a building that straddles the boundary line of two adjoining lots and exists for
the use of both owners.
Personal Easement in Gross
PAPER- REVISION QUESTIONS & SOLUTIONS
Estate at Sufferance
An interest in real property held by a tenant who holds over without the consent of the landlord
after the tenant's right of possession has terminated.
Estate for Years
A tenant's interest in real property
(leasehold estate) for a fixed period of time.
Estate from Period to Period
A tenant's interest in real property (leasehold estate) for a certain period of time. Without
proper notice the period is automatically renewed.
Estate
The quality, quantity, nature and extent of ownership interest or rights a person holds in real
property. __________s are either possessory or nonpossessory.
Fee Simple Absolute
An inheritable estate of indefinite duration, without restrictions or conditions to satisfy in order
to retain ownership. It is the most complete ownership of rights in land that one can hold. It is
said to be potentially perpetual.
Fee Simple Determinable
A fee simple estate that automatically ends and goes back to the person who granted the
estate, to their heirs or to a remainderman if named, upon the occurrence or nonoccurrence of
a stated condition.
Fee Simple Estate
An ownership interest in land which is freely inheritable. The estate may be absolute,
determinable or conditional.
Fee Simple Condition Subsequent
A fee simple estate that may be ended by the grantor or the grantor's heirs or a remainderman
if named, upon the occurrence or nonoccurrence of a stated condition.
Freehold Estate
,An ownership interest in land, the duration of which is uncertain. The estate may last forever
(i.e., be inheritable), or its duration may be measured by one person's life.
Future Right
The right to take possession or control of a property in the future (nonpossessory).
General Lien
A lien against all of the property owned by the debtor.
Holdover Tenant
A tenant who remains in possession of leased premises after their right of possession has
ended. Possession may be with or without the landlord's consent.
Homestead Protection
A right which protects a portion of a family's primary residence in the event a creditor forces a
sale to satisfy an outstanding debt. The amount of protection is determined by state law.
Impounds
Monthly payments of taxes and insurance collected by the lender to assure payment of these
items when they become due.
Inchoate Dower
A wife's interest in her husband's property while he is still living.
Incorporeal
An intangible interest in land, such as an easement.
Ingress
Access to a parcel of land.
Inheritance Tax
Tax on property received by will or by inheritance through the probate court.
Injunction
Court ordered requiring a person to whom it is directed to do or refrain from doing a particular
thing. A legal recourse that may be taken against one who violates a restrictive covenant in a
lease or deed.
Involuntary Lien
,A lien permitted by law and recorded without the landowner's consent. The lien may affect only
one particular property, such as a mechanic's lien, or it may affect all the debtor's property, such
as a judgment lien. Also known as a statutory lien.
Judgement
A court's official decision regarding the rights and claims of the parties in a lawsuit. A
_________ in a suit for damages is the amount of indebtedness set by the court.
Laches
Undue delay or failure to exercise one's legal right, resulting in the loss of the ability to exercise
the right.
Landlocked
Land which has no means of access except over neighboring land.
Leasehold Estate
A tenant's rights in real property granted to them by a lease.
Legal Life Estate
A life estate created by state law, the holder of which has a nonpossessory interest in real
property. Legal life estates include dower, curtesy and homestead protection.
Lesser Estate
Lesser Estate • Chapter 2 • An estate is created when a portion of ownership rights
License
An owner's permission for another to use the land for a specific purpose. The permission does
not grant a right in the land but a personal privilege, which is neither transferable nor
inheritable and may be terminated by either party.
Lien
A monetary claim against real estate which services as security for a debt.
Life Estate Pur Autre Vie
A life estate whose duration is measured by the life of someone other than the life tenant.
Life Estate
, A freehold estate (i.e., ownership interest in real property). The indefinite duration of the estate
is measured by the life of some person. Also called Conventional _____________.
Life Tenant
One to whom a life estate is granted; the owner of the estate.
Lis Pendens
Legal notice that a lawsuit is pending, and the outcome could affect the title to certain real
estate.
Mechanic's Lien
Also known as a materialman's lien, a lien created by statue against real property. It exists for
the purpose of securing payment to those persons who have performed work and/or furnished
materials for the improvement, maintenance or repair of real property against which the lien is
recorded.
Mortgage Lien
A monetary claim against a specific property pledged by its owner as security for the repayment
of a loan or other debt.
Nonpossessory Estate
An estate in real property, the possession of which is postponed until a preceding possessory
estate is terminated.
Notice of Completion
A legal notice required in some states in order to perfect a mechanic's lien. The notice lets the
property owner know that certain contracted work has been completed and/or materials
ordered have been supplied.
Ordinary Life Estate
A life estate whose duration is measured by the life of the life tenant.
Party Wall
A fence or wall of a building that straddles the boundary line of two adjoining lots and exists for
the use of both owners.
Personal Easement in Gross
