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Georgia Real Estate Principles Test 2025 Questions and Answers 100% Pass

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Georgia Real Estate Principles

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Georgia Real Estate Principles

Georgia Real Estate Principles Test 2025 Questions and Answers 100% Pass Real Property - Land, its improvements, and the rights of ownership (also referred to as the Bundle of Rights) Real Estate - Land and its improvements Bundle of Rights - The rights of an owner to possess, control, enjoy, ...

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georgia real estate principles test 2025 questions

Institution Georgia Real Estate Principles
Module Georgia Real Estate Principles

KatelynWhitman

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Georgia Real Estate Principles Test 2025
Questions and Answers 100% Pass

Real Property - ✔✔Land, its improvements, and the rights of ownership (also referred to as the Bundle

of Rights)

Real Estate - ✔✔Land and its improvements

Bundle of Rights - ✔✔The rights of an owner to possess, control, enjoy, sell, lease, mortgage, and

dispose of the property.

What is Real Property - ✔✔The land itself (surface rights), airspace above the land (air rights), mineral

rights (subsurface rights), improvements of and to the land, fixtures, fructus naturales, and water rights.

Surface Rights - ✔✔The legal right to control, occupy, and use the surface area of a parcel of real estate

(land), including the building of improvements (real property), and the right to grow crops.

Air Rights - ✔✔The right to use, control and occupy the space above a particular parcel of land. Air rights

may be sold or leased.

Subsurface Rights - ✔✔The right to explore, drill, or dig below the surface for minerals and water.

Mineral rights may be sold or leased and pass with the transfer of property unless otherwise specified in

the deed.

Improvements - ✔✔Additions to property that increase its value or enhance its appearance. It can

include buildings, fixtures, and landscaping.

,Fixtures - ✔✔items of personal property that are attached or annexed to real property

The Four tests that determine a fixture - ✔✔Method of Attachment, Constructive Annexation

(Adaptability), Agreement, and Relationship of the parties.

Method of Attachment - ✔✔How the item was attached to the property

Constructive Annexation (Adaptability) - ✔✔Personal property associated with real property in such a

way that the law treats it as a fixture, even though it is not physically attached to the real property.

Agreement - ✔✔A written agreement between the parties concerning questionable items that may be

asked to stay with the real property via contract.

Relationship to the Parties - ✔✔In general, a court will favor a tenant over a landlord, and a buyer over a

seller.

Fructus Naturales - ✔✔Permanent Plants that do not require annual cultivation and are considered real

property.

Water Occurring Naturally - ✔✔Water in ponds, lakes, streams, oceans and seas, is classified as real

property. Landowners whose property abuts or is adjacent to a natural body of water have certain legal

rights to use the water, but they don't own the water. Water rights are appurtenant (attached to the land

and not the landowner)

Navigable Waters - ✔✔Refers to a body of water that is used for commerce or transportation. The

federal government determines how the waters are used, by whom, and under what conditions. The

federal government can dredge, build dams, and if they need state or private land to complete a project,

they can take land under the laws of eminent domain. The U.S. Army Corps of Engineers is in charge of

legal enforcement.

,Littoral Rights - ✔✔The right of a property owner whose land borders on a body of water, such as a lake,

ocean or sea, to reasonable use and enjoyment of the shore and water the property borders on.

Riparian Rights - ✔✔An owner's rights in land that borders on or includes a moving waterway such as

stream or river. These rights include access to and use of the water.

Prior Appropriation Doctrine - ✔✔Separates water rights from land ownership, and establishes that

water rights can be sold and mortgaged like other property.

Appurtenances - ✔✔Are all of the rights, privileges, and improvements that belong to, and pass with,

the transfer of property but are not necessarily a physical part of the actual property. A deed normally

describes the property granted, and then states, "together with all appurtenances." Examples of an

appurtenance would be a parking space or water rights.

Easements - ✔✔The right to use land for a specific and limited purpose

Physical Characteristics of Land - ✔✔Immobility, Indestructibility, and Uniqueness (non-homogeneity)

Immobility - ✔✔Land cannot be moved from one site to another; its location is forever fixed

Indestructibility - ✔✔Land is permanent and cannot be destroyed. Its value may be destroyed by

changing conditions, but physically land goes on forever.

Non-homogeneity/Uniqueness - ✔✔A characteristic of real property: each piece of land, each building,

and each house is a different piece of real estate.

Economic Characteristics of Land - ✔✔Scarcity, Situs (Area Preference), Permanency of Improvements,

Production, Assemblage.

Scarcity - ✔✔Limited supply of land

, Situs (Area Preference) - ✔✔Situs consists of two factors: (1) certain locations are more preferable than

others; and (2) real estate is immobile - it cannot be moved.

Permanence of Improvements - ✔✔The permanence of improvements, combined with the immobility of

the underlying land, makes the real estate market less flexible than other markets. Investments in land,

and improvements to land, tend to be long-term. As a result the real estate market is slow to respond to

changes in supply.

Production - ✔✔Real Estate production refers to the development of land and the construction

improvements.

Assemblage - ✔✔The combining of two or more adjoining lots into one larger tract to increase their total

value.

Chattel - ✔✔Personal property, such as household goods or fixtures.

Trade Fixtures - ✔✔Fixtures and equipment that may be attached to a building during a tenant's

occupancy, with the intention that they be removed when the tenant leaves.

Replacement Fixtures - ✔✔Improvements installed by a tenant to replace worn or damaged items that

were already in place before the start of the lease. Unlike trade fixtures, replacement fixtures do not

become the personal property of the tenant.

Fructus Industriales (Emblements) - ✔✔Annual plantings that require cultivation, such as crops. They are

considered personal property.

Severance - ✔✔Changing an item of real estate to personal property by detaching it from the land; for

example, cutting down a tree.

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