Georgia Real Estate Exam Study Guide with Correct Answers 2024 Update

Georgia Real Estate Exam Study Guide with Correct Answers 2024 Update Accession - Answer -The acquisition of title by the owner of real property to those things attached to the property by others, such as tenants, trespassers, or by nature. Acre - Answer -A measure of land area equal to 43560 square feet. 43560 - Answer -The number of squarefeet in one acre. Active License - Answer -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. Air Lot - Answer -A designated air space over a parcel of land. In condominiums, each individual unit occupies a separate one. Air Rights - Answer -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. Appurtenance - Answer -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. Artificial Monuments - Answer -Man-made objects such as streets, fences, iron pins, concrete posts, etc. Associate Broker - Answer -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. Attorney General - Answer -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. Baseline - Answer -Certain reference lines which run east and west; used in rectangular survey system to locate land. Bench Mark - Answer -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-ofway. Bill of Sale - Answer -A document which conveys ownership to personal property. Broker - Answer -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.Call - Answer -The compass direction and distance for each boundary line. Censure - Answer -Disciplinary power of the Commission whereby it reprimands a license