Georgia Real Estate Exam
State Portion Practice Questions & Verified Answers | GA
Salesperson Licensing Exam Review | 2026–2027
, Security deed (deed to secure debt) Georgia's primary security instrument; borrower conveys title to lender; uses power
of sale clause.
Parties to a Georgia security deed Two only: the grantor (borrower) and the grantee (lender). No trustee.
Power of sale clause Allows the lender to foreclose without going to court (non-judicial foreclosure).
Right of redemption in Georgia None after a normal foreclosure; the ONLY exception is a tax sale.
Promissory note The borrower's written promise to repay; a contract; NOT recorded in county
records.
Parties to a promissory note The obligor (borrower, who owes) and the obligee (creditor).
Release clause / Cancellation of Deed to Secure Debt Returns full title to the borrower once the debt is paid.
Mortgage and deed of trust in Georgia Legal but rarely used; the security deed is used the majority of the time.
Georgia transfer tax $1.00 per $1,000 of the sale price; usually paid by the seller.
Georgia intangible tax (intangible recording tax) $1.50 per $500 of the loan amount; max $25,000; paid by the buyer.
Proration Dividing shared expenses between buyer and seller based on length of ownership.
Taxes paid in arrears Property taxes are billed/paid AFTER the period; insurance is paid in advance.
Georgia tax year January 1 through December 31; the seller owns through the closing day.
Tax proration day-count Real estate tax prorations use a 365-day year.
Interest proration day-count Interest prorations use a 360-day "banker's year" (every month = 30 days).
State Portion Practice Questions & Verified Answers | GA
Salesperson Licensing Exam Review | 2026–2027
, Security deed (deed to secure debt) Georgia's primary security instrument; borrower conveys title to lender; uses power
of sale clause.
Parties to a Georgia security deed Two only: the grantor (borrower) and the grantee (lender). No trustee.
Power of sale clause Allows the lender to foreclose without going to court (non-judicial foreclosure).
Right of redemption in Georgia None after a normal foreclosure; the ONLY exception is a tax sale.
Promissory note The borrower's written promise to repay; a contract; NOT recorded in county
records.
Parties to a promissory note The obligor (borrower, who owes) and the obligee (creditor).
Release clause / Cancellation of Deed to Secure Debt Returns full title to the borrower once the debt is paid.
Mortgage and deed of trust in Georgia Legal but rarely used; the security deed is used the majority of the time.
Georgia transfer tax $1.00 per $1,000 of the sale price; usually paid by the seller.
Georgia intangible tax (intangible recording tax) $1.50 per $500 of the loan amount; max $25,000; paid by the buyer.
Proration Dividing shared expenses between buyer and seller based on length of ownership.
Taxes paid in arrears Property taxes are billed/paid AFTER the period; insurance is paid in advance.
Georgia tax year January 1 through December 31; the seller owns through the closing day.
Tax proration day-count Real estate tax prorations use a 365-day year.
Interest proration day-count Interest prorations use a 360-day "banker's year" (every month = 30 days).
