Untitled Deck Flashcards
What has Georgia enacted regarding the Rule Against Perpetuities?
Georgia has enacted much of the Uniform Statutory Rule Against Perpetuities and provides for an alternative 360-year vesting period.
What approach does Georgia use to determine vesting?
A wait-and-see approach is used to determine vesting within the 360-year period.
How does the Rule Against Perpetuities treat the possibility of a child being born after death?
The Rule disregards the possibility that a child will be born to an individual after that individual’s death.
What can an interested person do if an interest is invalid under Georgia law?
An interested person may petition a court to reform the disposition to approximate the transferor’s manifested plan of distribution within the 360-year period.
What is required to create a joint tenancy at common law?
The four unities of time, title, interest, and possession are required to create a joint tenancy.
How can a joint tenancy be created in Georgia?
Georgia permits a joint tenancy to be created by a conveyance from one person to themselves and another, without needing a straw person.
How does Georgia treat mortgages in relation to joint tenancies?
Georgia regards a mortgage as security for a debt only, not as a transfer of title, so executing a security deed by one joint tenant does not cause a severance.
What happens to a joint tenancy in Georgia if one tenant becomes incapacitated?
Under Georgia law, a joint tenancy is not severed by the incapacity of one of the joint tenants, even if a guardian is appointed.
What is a tenancy by the entirety?
A tenancy by the entirety is a marital estate akin to a joint tenancy between spouses.
How does Georgia treat tenancy by the entirety?
Georgia does not recognize the tenancy by the entirety.
