Untitled Deck Flashcards
(10 cards)
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.
