Georgia Real Estate Exam Study Guide Questions and Answers with Complete Solutions

Document Content and Description Below

Georgia Real Estate Exam Study Guide Questions and Answers with Complete Solutions The acquisition of title by the owner of real property to those things attached to the property by others, such a... s tenants, trespassers, or by nature. ✔✔Accession A measure of land area equal to 43560 square feet. ✔✔Acre The number of squarefeet in one acre. ✔✔43560 Status of an individual who has met all qualifications to practice real estate as a broker, associate broker, or salesperson; and such license is held by a broker, rather than by the Commission. ✔✔Active License A designated air space over a parcel of land. In condominiums, each individual unit occupies a separate one. ✔✔Air Lot The right to use and enjoy the air space above a parcel of land. Such rights may be leased or sold separately from the land. ✔✔Air Rights Anything that may be used with the land for its benefit and goes to the new owner when ownership of the land is transferred. Mineral rights, air rights, water rights, easements, improvements, and natural attachments are examples. ✔✔Appurtenance Man-made objects such as streets, fences, iron pins, concrete posts, etc. ✔✔Artificial Monuments A person who has met all qualifications to be licensed as a broker, but who elects to act on behalf of another broker in performing any act authorized by law to be performed by a broker. ✔✔Associate Broker Legal counsel for the state. Whenever the Commission believes a serious violation of the License Law has occurred, the ____________ may bring an action in the name of the state to enforce compliance. ✔✔Attorney General Certain reference lines which run east and west; used in rectangular survey system to locate land. ✔✔Baseline A permanent reference point of known location used by surveyors. A ________ may be a point established by a government survey team or a fixed monument such as a road right-of-way. ✔✔Bench Mark A document which conveys ownership to personal property. ✔✔Bill of Sale An individual or legal entity licensed to act as the agent of another in buying, selling, exchanging, renting, leasing, managing, or auctioning real estate for another. ✔✔Broker The compass direction and distance for each boundary line. ✔✔Call Disciplinary power of the Commission whereby it reprimands a licensee, usually for technical violations occurring for the first time. ✔✔Censure Personal property. ✔✔Chattel The metes and bounds legal description must return to the point of beginning or the description is incomplete. ✔✔Closure Participation of more than one broker in a real estate transaction. ✔✔Co-brokering Mixing funds held in trust with the brokers personal or business accounts. ✔✔Commingling The state licensing authority charged with the enforcement of the Real Estate License Law. ✔✔The Real Estate Commission The transfer to someone other than the owner of the land the rights to remove attachments such as timber, or buildings, or the right to remove minerals. ✔✔Constructive Severance The shape of the earths surface. ✔✔Contour The doctrine of law which allows riparian owners in certain states to use only a reasonable share of water during periods of drought. ✔✔Correlative Rights A point of surface of known location from which heights and depths are measured. The basic point from which vertical land(air rights and mineral rights) is described. ✔✔Datum Representing both the buyer and the seller in the [Show More]

Last updated: 1 year ago

Preview 1 out of 62 pages