Chapter 3 - Ownership
Quiz
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Other
•
Professional Development
•
Hard
Joi Bostic
Used 6+ times
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11 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Condominium developers must file all EXCEPT?
Public offering statement
Plat
Declaration
Master deed
Answer explanation
Public offering statement is given with a time share
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An estate owned by one person is?
Priority ownership
Chattels real
Fee simple
Severalty ownership
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How joint tenancy differs from tenants in common?
Unity of interest
Unity of possession
Right of survivorship
Created in deed or will
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Option when con-current owners can’t agree?
Community property
Partition suit
Form a partnership
Escheat
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All are unities of ownership EXCEPT?
Title
Transfer
Possession
Interest
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Georgia recognizes this form of ownership?
Tenancy by the entirety
Dower or curtesy
Community property
Joint tenancy
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Trust where two positions are held by same person?
Land trust
Testamentary trust
Living will
Real estate investment trust
Answer explanation
Land trust - trustor and beneficiary are same person
B. Created by the will once deceased
C. Medical wishes when incapacitated
D. Group of investors
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