Present Interests and Concurrent Ownership

Question 1

Fee tail

Answer 1

“O to A and the heirs of A’s body”

• Look for words limiting descent through grantee’s blood line
• Abolished in Georgia, creates a FSA in the grantee

Question 2

Life tenant duties in life estate

Answer 2

1. Obligated to pay taxes and maintenance cost
2. Duty to not commit waste

Question 3

Result of failing to meet duties of life estate tenant?

Answer 3

In Georgia, the failure to meet duties results in forfeiture of the life estate, and title vests in the remainder beneficiary

Question 4

A co-tenant has no duty to pay other owners for use of property, except for:

Answer 4

“tWERP”

1. Waste
2. Exclusive use of the property
3. Rent received from leasing
4. Precluding others from use

Question 5

Is Georgia a title theory state or a lien theory state for purpose of a joint tenancy with right of survivorship?

Answer 5

Georgia is a lien theory state, so if a JT becomes incapacitated or a joint tenant mortgages the property, there is no severance; the joint tenancy continues

Question 6

T or F: Georgia recognizes a tenancy by the entirety

Answer 6

False. In Georgia, married persons own property together either as tenants in common or as joint tenants with right of survivorship