Georgia Property Ownership Quiz A

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Question 1 of 10

1. Question
True or false: joint tenancy is destroyed when any one of the four unities of joint tenancy is terminated
- True
- False
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Question 2 of 10

2. Question
What are the intentional acts a joint tenancy can be created?
- Conveying a deed
- Giving property by will
- Living trust
- All of the Above
- None of the above
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Question 3 of 10

3. Question
What are the following are NOT needed to create a joint tenancy
- Unity of possession
- Living trusts
- Unity of interest
- Unity of time
- Unity of title
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Question 4 of 10

4. Question
What is severalty ownership?
- Property owned by two or more people, married or unmarried
- Two or more people simultaneously owning rights in the same land, co-owners or concurrent owners
- Estate created by one person or a single legal entity
- None of the above
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Question 5 of 10

5. Question
What are NOT the types of concurrent ownership?
- Joint tenancy
- Tenancy in common
- 55 years
- Tenancy in partnership
- Ownership in severalty
- Community property
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Question 6 of 10

6. Question
Which term best fits the definition: purchaser of stock
- Lender
- Time-share
- Cooperative
- Shareholder
- None of the above
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Question 7 of 10

7. Question
What is separate property?
- Property owned by one spouse before marriage or acquired by one spouse during marriage by gift, inheritance or with the proceeds of a separate property
- Property acquired during the marriage that is not separate property and requires the agreement of both spouses to be conveyed
- two or more individuals may take one of four forms, dependent upon the state the property is located
- receives ownership of benefits within trust
- None of the above
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Question 8 of 10

8. Question
What is the definition of a syndicate?
- A partnership is an association of two or more persons who carry on a business for profit as co-owners
- a device by which one person transfers ownership of the property to someone else to hold or manage for the benefit of a third party
- A group of individuals or firms who get together for the purpose of investing or dealing in real estate
- an association of two or more persons who carry on a business for profit as co-owners
- None of the above
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Question 9 of 10

9. Question
Which are examples of the types of trusts (and business organizations)?
- Land
- Testamentary
- Living
- Real estate investment
- All of the above
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Question 10 of 10

10. Question
What is a partition?
- A song
- The legal action to force division or sale of the property
- Renders fiduciary duties to trustor and beneficiary
- In the event of death, interests, and rights are passed to other joint tenants
- None of the above
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