Georgia Real Estate Exam Study Guide Verified 2023/1/2
with complete solution
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.
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.
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 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.
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.
Georgia Administrative Procedures Act
A state law which requires administrative bodies such as the Georgia Real Estate
Commission to follow certain procedures in its investigative process and before
exercising its disciplinary powers. For example, before the Commission can impose a
sanction against a license, the licensee must be given a hearing.
Improvements
Any permanent, man-made attachment to the land, such as buildings, fences, roads, or
pipelines. Also known as arterial attachment.
Inactive License
Statue of a licensee temporarily unemployed, or who has otherwise ceased his/her
active involvement in the real estate business on behalf of a broker. During such time,
the license is held by the Commission and may remain there indefinitely, but must be
renewed and fees must be paid the same as active licensees.
Land
An area which starts at the center of the earth, passes through the earth's surface and
extends into space.
Law of Capture
The law which allows a well drilled on one property to extract oil or gas reserves from
under adjoin properties.
Legal Description
A description of land legally sufficient to distinguish it from all other parcels.
Littoral Rights
A landowners lawful claim to use and enjoy the water of a large lake or ocean bordering
the owned property.
Meridians
Certain reference lines which run north and south used in the rectangular survey system
to locate land. The north-south line on a compass.
Metes and Bounds
A method of legally describing land by measuring directions and distances of its
boundary lines.
Mineral Rights
A landowner's legal interest in minerals below the surface of his land. Such rights are
considered to be appurtenant to the land and may be sold or leased separately.
Monument
A fixed point or object used to denote the end point of a boundary line in a metes and
bounds description.
Natural Monuments
Trees, rocks, streams, etc.
with complete solution
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.
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.
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 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.
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.
Georgia Administrative Procedures Act
A state law which requires administrative bodies such as the Georgia Real Estate
Commission to follow certain procedures in its investigative process and before
exercising its disciplinary powers. For example, before the Commission can impose a
sanction against a license, the licensee must be given a hearing.
Improvements
Any permanent, man-made attachment to the land, such as buildings, fences, roads, or
pipelines. Also known as arterial attachment.
Inactive License
Statue of a licensee temporarily unemployed, or who has otherwise ceased his/her
active involvement in the real estate business on behalf of a broker. During such time,
the license is held by the Commission and may remain there indefinitely, but must be
renewed and fees must be paid the same as active licensees.
Land
An area which starts at the center of the earth, passes through the earth's surface and
extends into space.
Law of Capture
The law which allows a well drilled on one property to extract oil or gas reserves from
under adjoin properties.
Legal Description
A description of land legally sufficient to distinguish it from all other parcels.
Littoral Rights
A landowners lawful claim to use and enjoy the water of a large lake or ocean bordering
the owned property.
Meridians
Certain reference lines which run north and south used in the rectangular survey system
to locate land. The north-south line on a compass.
Metes and Bounds
A method of legally describing land by measuring directions and distances of its
boundary lines.
Mineral Rights
A landowner's legal interest in minerals below the surface of his land. Such rights are
considered to be appurtenant to the land and may be sold or leased separately.
Monument
A fixed point or object used to denote the end point of a boundary line in a metes and
bounds description.
Natural Monuments
Trees, rocks, streams, etc.
