Georgia Real Estate Exam Study Guide
Accession - -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.
Page | 1
Acre - -A measure of land area equal to 43560 square feet.
43560 - -The number of squarefeet in one acre.
Active License - -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 - -A designated air space over a parcel of land. In condominiums, each
individual unit occupies a separate one.
Air Rights - -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 - -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 - -Man-made objects such as streets, fences, iron pins,
concrete posts, etc.
, Associate Broker - -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.
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Attorney General - -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 - -Certain reference lines which run east and west; used in rectangular
survey system to locate land.
Bench Mark - -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.
Bill of Sale - -A document which conveys ownership to personal property.
Broker - -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 - -The compass direction and distance for each boundary line.
Censure - -Disciplinary power of the Commission whereby it reprimands a licensee,
usually for technical violations occurring for the first time.
Chattel - -Personal property.
, Closure - -The metes and bounds legal description must return to the point of
beginning or the description is incomplete.
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Co-brokering - -Participation of more than one broker in a real estate transaction.
Commingling - -Mixing funds held in trust with the brokers personal or business
accounts.
The Real Estate Commission - -The state licensing authority charged with the
enforcement of the Real Estate License Law.
Constructive Severance - -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.
Contour - -The shape of the earths surface.
Correlative Rights - -The doctrine of law which allows riparian owners in certain
states to use only a reasonable share of water during periods of drought.
Datum - -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.
, Dual Agency - -Representing both the buyer and the seller in the same transaction.
This practice constitutes a violation of License Law, unless both parties give their written
consent.
Page | 4
Earnest Money - -The purchaser's initial commitment of something of value to
indicate that he/she wants to buy the property according to the terms of the offer being
submitted. _______ deposits received by the broker must be placed in her/her designated
trust account, until the transaction is either closed or otherwise terminated.
Emblements - -Crops that require annual cultivation. They are considered personal
property even though it is attached to the land.
Escrow Account - -A separate account which a broker must maintain for the deposit
of all funds coming into his/her possession that belongs to others. Before a broker's license
will be issued, the broker must authorize the Commission to examine the account at any
time.
Executor - -Person named in a will to carry out the directions and requests of the
deceased.
Fixture - -An item that was once personal property but has become real property
because of the manner in which it was attached to the land or its improvements.
Fructus Industriales - -Crops that are planted and harvested each year.
Fructus Naturales - -Growing things which require no annual cultivation.
Accession - -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.
Page | 1
Acre - -A measure of land area equal to 43560 square feet.
43560 - -The number of squarefeet in one acre.
Active License - -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 - -A designated air space over a parcel of land. In condominiums, each
individual unit occupies a separate one.
Air Rights - -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 - -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 - -Man-made objects such as streets, fences, iron pins,
concrete posts, etc.
, Associate Broker - -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.
Page | 2
Attorney General - -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 - -Certain reference lines which run east and west; used in rectangular
survey system to locate land.
Bench Mark - -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.
Bill of Sale - -A document which conveys ownership to personal property.
Broker - -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 - -The compass direction and distance for each boundary line.
Censure - -Disciplinary power of the Commission whereby it reprimands a licensee,
usually for technical violations occurring for the first time.
Chattel - -Personal property.
, Closure - -The metes and bounds legal description must return to the point of
beginning or the description is incomplete.
Page | 3
Co-brokering - -Participation of more than one broker in a real estate transaction.
Commingling - -Mixing funds held in trust with the brokers personal or business
accounts.
The Real Estate Commission - -The state licensing authority charged with the
enforcement of the Real Estate License Law.
Constructive Severance - -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.
Contour - -The shape of the earths surface.
Correlative Rights - -The doctrine of law which allows riparian owners in certain
states to use only a reasonable share of water during periods of drought.
Datum - -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.
, Dual Agency - -Representing both the buyer and the seller in the same transaction.
This practice constitutes a violation of License Law, unless both parties give their written
consent.
Page | 4
Earnest Money - -The purchaser's initial commitment of something of value to
indicate that he/she wants to buy the property according to the terms of the offer being
submitted. _______ deposits received by the broker must be placed in her/her designated
trust account, until the transaction is either closed or otherwise terminated.
Emblements - -Crops that require annual cultivation. They are considered personal
property even though it is attached to the land.
Escrow Account - -A separate account which a broker must maintain for the deposit
of all funds coming into his/her possession that belongs to others. Before a broker's license
will be issued, the broker must authorize the Commission to examine the account at any
time.
Executor - -Person named in a will to carry out the directions and requests of the
deceased.
Fixture - -An item that was once personal property but has become real property
because of the manner in which it was attached to the land or its improvements.
Fructus Industriales - -Crops that are planted and harvested each year.
Fructus Naturales - -Growing things which require no annual cultivation.
