PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM GLOSSARY
Severalty is ownership of real property by one legal person or entity alone rather than by co-owners.
Property Ownership
Concurrent ownership
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 Severalty mean?
Severalty is ownership of real property by one legal person or entity alone rather than by co-owners. A corporation can own in severalty even though it has many shareholders.
How do you separate the nearest exam answer?
Severalty means sole title in one legal owner. Tenancy in common and joint tenancy are concurrent ownership forms involving two or more owners.
What changes or stays the same in Georgia?
The national ownership rule applies in Georgia. Always identify the legal titleholder, not the number of people behind an entity.
An LLC is the only grantee named in the deed. The LLC owns the property in severalty.
One entity can have many members and still be the sole legal owner.
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.
A deed names Oak Street Holdings LLC as the only grantee. The LLC has four members. How is title held?
- A
As tenants in common among the four members
- B
As joint tenants with survivorship among the members
- C
As a partnership in the members' own names
- D
In severalty, by the LLC as the sole owner
Severalty means one legal person or entity holds title alone. The LLC is the only titleholder, so it owns in severalty no matter how many members it has. The members own interests in the company, not concurrent interests in the land.
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