Georgia Real Estate Exam Study Guide / Questions
with Definitive Solutions.
Terms in this set (363)
The acquisition of title by the owner of real property
Accession to those things attached to the property by others,
such as tenants, trespassers, or by nature.
Acre A measure of land area equal to 43560 square feet.
43560 The number of squarefeet in one acre.
Status of an individual who has met all qualifications
to practice real estate as a broker, associate broker, or
Active License
salesperson; and such license is held by a broker,
rather than by the Commission.
A designated air space over a parcel of land. In
Air Lot condominiums, each individual unit occupies a
separate one.
The right to use and enjoy the air space above a
Air Rights parcel of land. Such rights may be leased or sold
separately from the land.
Anything that may be used with the land for its benefit
and goes to the new owner when ownership of the
Appurtenance land is transferred. Mineral rights, air rights, water
rights, easements, improvements, and natural
attachments are examples.
Man-made objects such as streets, fences, iron pins,
Artificial Monuments
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.
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.
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 The state licensing authority charged with the enforcement
Commission 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.
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.
with Definitive Solutions.
Terms in this set (363)
The acquisition of title by the owner of real property
Accession to those things attached to the property by others,
such as tenants, trespassers, or by nature.
Acre A measure of land area equal to 43560 square feet.
43560 The number of squarefeet in one acre.
Status of an individual who has met all qualifications
to practice real estate as a broker, associate broker, or
Active License
salesperson; and such license is held by a broker,
rather than by the Commission.
A designated air space over a parcel of land. In
Air Lot condominiums, each individual unit occupies a
separate one.
The right to use and enjoy the air space above a
Air Rights parcel of land. Such rights may be leased or sold
separately from the land.
Anything that may be used with the land for its benefit
and goes to the new owner when ownership of the
Appurtenance land is transferred. Mineral rights, air rights, water
rights, easements, improvements, and natural
attachments are examples.
Man-made objects such as streets, fences, iron pins,
Artificial Monuments
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.
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.
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 The state licensing authority charged with the enforcement
Commission 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.
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.
