As used in this title, the term "estate" means the quantity of interest which an owner has in real or personal property. Any estate which can be created in realty may be created in personalty.
(Orig. Code 1863, § 2225; Code 1868, § 2219; Code 1873, § 2245; Code 1882, § 2245; Civil Code 1895, § 3080; Civil Code 1910, § 3656; Code 1933, § 85-104.)
Law reviews.- For comment discussing the legal effect of concurrent leases under both common law and statutory law in Georgia, see 6 Ga. St. B.J. 320 (1970).
JUDICIAL DECISIONS
Common law rule.
- Former Civil Code 1895, §§ 3080 and 3101 (see O.C.G.A. §§ 44-1-4 and44-6-63 [repealed]) were a codification of the old law. Collins v. Smith, 105 Ga. 525, 31 S.E. 449 (1898).
"Estate" and the "character of the estate," according to our laws and common understanding, have reference to the interest in the property, to wit: an estate for years, an estate for life, an estate in remainder vested or contingent, and an estate in fee simple. DeVaughn v. McLeroy, 82 Ga. 687, 10 S.E. 211 (1889).
Realty and personalty are different kinds of property, but not different kinds of estates. DeVaughn v. McLeroy, 82 Ga. 687, 10 S.E. 211 (1889).
No distinction as to bequest of personalty and devise of realty. Winn v. Tabernacle Infirmary, 135 Ga. 380, 69 S.E. 557, 32 L.R.A. (n.s.) 512 (1910).
Ownership is necessary for estate.
- In order for there to be an estate, there must be ownership of an interest in the property. Henson v. Airways Serv., Inc., 220 Ga. 44, 136 S.E.2d 747 (1964).
When lessee has only right of possession and use of the leased premises, not a proprietary interest therein, there is no "merger of estates" pursuant to O.C.G.A. § 44-6-2 when the lessee purchases the subject property. Life Chiropractic College, Inc. v. Carter & Assocs., 168 Ga. App. 38, 308 S.E.2d 4 (1983).
Estate may be created in money.
- Any estate that can be created in realty may be created in personalty, and this includes money. Hicks v. Wadsworth, 57 Ga. App. 529, 196 S.E. 251 (1938).
Gift of whole estate includes money of the estate. Thornton v. Burch, 20 Ga. 791 (1856).
Remainder may be created in money since money is an estate or the part of an estate. Crawford v. Clark, 110 Ga. 729, 36 S.E. 404 (1900).
Former Civil Code 1910, §§ 3736 and 3737 applied to personalty as well as to realty by virtue of the provisions of former Civil Code 1910, § 3656 (see O.C.G.A. § 44-1-4). Hubbard v. Bibb Brokerage Co., 44 Ga. App. 1, 160 S.E. 639 (1931).
Power of appointment is not an absolute right of property. It is not an estate, and has none of the elements of an estate. Patterson & Co. v. Lawrence, 83 Ga. 703, 10 S.E. 355 (1889).
Effect of converting realty to personalty on nature of remainder interest.
- Conversion of land into personalty does not change the character of the estate from vested to a contingent remainder, because estate or character of estate means quantity of interest and not character of property. DeVaughn v. McLeroy, 82 Ga. 687, 10 S.E. 211 (1889).
Life estate may be created in personal property, with the limitation that the life estate may not be created in such property as is destroyed in the use. First Nat'l Bank v. Geiger, 61 Ga. App. 865, 7 S.E.2d 756 (1940).
Cited in National Fin. Co. v. Citizens Loan & Sav. Co., 184 Ga. 619, 192 S.E. 717 (1937); Ward v. McGuire, 213 Ga. 563, 100 S.E.2d 276 (1957); Dodson v. Trust Co., 216 Ga. 499, 117 S.E.2d 331 (1960); J.B. McCrary Co. v. Peacock, 223 Ga. 476, 156 S.E.2d 57 (1967); Sams v. McDonald, 117 Ga. App. 336, 160 S.E.2d 594 (1968); Bryant v. Bryant, 224 Ga. 360, 162 S.E.2d 391 (1968).