PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM GLOSSARY
A life estate is a freehold interest that lasts for the lifetime of a named person.
Property Ownership
Freehold estates and future interests
Define, distinguish, apply, retrieve
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PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEBuild the complete exam definition
Learn the rule, separate it from the nearest distractor, then apply it to a Georgia fact pattern.
What does Life estate mean?
A life estate is a freehold interest that lasts for the lifetime of a named person. The life tenant may possess and use the property but cannot commit waste that unreasonably harms the future interest.
How do you separate the nearest exam answer?
The life tenant holds the present possessory estate. The remainderman or reversioner holds the future interest that becomes possessory when the measuring life ends.
What changes or stays the same in Georgia?
Georgia deeds can create life estates and reserve or grant future interests. The instrument determines the measuring life and who takes next.
An owner conveys a home to Maya for life, then to Leo. Maya has the life estate, and Leo has the remainder.
The life tenant may transfer only the interest held. A buyer from the life tenant does not receive ownership beyond the measuring life.
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDERetrieve the rule under exam conditions
Answer before reading the explanation. Then explain why every distractor belongs to a different term.
Grace holds a life estate in a farm measured by her own life, with the remainder to Hal. Grace sells her interest to Ivan. What does Ivan own?
- A
The right to the farm until Grace dies
- B
Fee simple title to the farm
- C
The farm for the rest of Ivan's life
- D
Nothing, since a life estate cannot be sold
A life tenant can transfer only what the life tenant holds. Ivan gets possession measured by Grace's life, and Hal takes when Grace dies. Buying from a life tenant does not yield fee simple or a new measuring life.
Mark each box only when you can perform the skill without looking.
I can define the term in one precise sentence.
I can separate it from the closest look-alike.
I can explain the Georgia rule or confirm that the national rule applies.
I can answer the practice check and explain every option.
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEConnect the term to the wider exam
Use these relationships to move from isolated recall to a connected exam model.
Property Ownership complete lesson
https://www.passgeorgiarealestate.com/study-guide/property-ownership/forms-of-ownership
Official exam administration and content-outline source.
https://test-takers.psiexams.com/api/content/bulletin/4672State-authorized public access to current Georgia statutes, including Title 44 property law.
https://www.lexisnexis.com/hottopics/gacode/Default.asp