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GA REAL ESTATE TEST CHAPTER 3 QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. If there is no indication in the deed as to how co owners are taking title, the law presumes the parties intended to own property as - -tenants in common ownership of real estate for such things as schools, roads, parks and military installations - -public ownership A tenancy in common form of ownership entitles each co tenant to - -An equal interest in the land ownership by 1 person or a single entity - -several...

GA REAL ESTATE – AGENCY EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. Licensee - -Anyone with a Real Estate license Inactive Licensees - -Not agents How does an agent remain inactive? - -By paying the renewal fee How does and agent activate their license? - -Taking 9 hours of continuing education for each year the license was inactive. Active licensee - -are all agents How many brokers are allowed per firm? - -One active (qualifying broker) how old does a broker have to be...

GEORGIA PRINCIPLES OF REAL ESTATE 1, QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+/ Bundle of Rights - -Right to possess Right to control within legal limits Right to enjoy Right to exclude others from entering Right to encumber Right to dispose by sale or Transfer Surface Rights - -Right to control, occupy and use the surface area of a parcel of real estate, including building of improvements and growing crops Air Rights - -Legal right to control occupy or use airspace above a pa...

GEORGIA REAL ESTATE CLASS FINAL EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, VERIFIED. When you list an owner's property for sale you owe them client level services, fiduciary services which include - -confidentiality, loyalty, obedience, full disclosure a recent appraisal on a property reveals that a home has a leaking roof, dirty carpeting, updated granite countertops, central heat and air, a full basement, but the home is affected by a busy highway. What type of depreciation do...

GEORGIA REAL ESTATE EXAM PREP. QUESTIONS & ANSWERS. 100% ACCURATE, VERIFIED. Angie owns a four-plex. She lives in one unit and rents out the others - -Which of the following may represent an exemption from Georgia fair housing laws Kiting - -Representing the sale price on a home as an amount greater than what it actually sold for is considered Providing financing for diverse housing communities - -Which is NOT a focus of Georgia's Fair Housing Division Conducting an appraisal of the...

GEORGIA REAL ESTATE EXAM REVIEW PART A| EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, VERIFIED. Which of the following are appointed by the governor? A. Members of the Georgia Real Estate Commission. B. The Real Estate Commissioner. C. Real estate instructors. D. Georgia Real Estate Commission employees. - ->> CORRECT ANSWER IS: A >> YOUR ANSWER IS: A Members of the Georgia Real Estate Commission are appointed by the governor. The Real Estate Commissioner is an employe...

GEORGIA REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+. VERIFIED. Appurtenant Easement - -The permanent right to use another's land. Easements for adjacent properties or neighbors, which run with the land. Most protection. Abstract of Title - -A history of All recorded instruments Affecting the title to a piece of land. Statute of Frauds - -A state statute under which certain types of contracts must be in writing to be enforceable. Statute of Limitations - -A federal or stat...

GEORGIA REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. Title - -Document that shows ownership Alienation - -To sell or convey Transfer: change of ownership Legal Title - -Ownership with right of possession and use Equitable Title - -Right to legal title upon completion of contract Buyer receives after they go into contract until seller meets all buyer's needs also closing costs Bare (naked) Title - -Ownership without possession rights or use Some states use a th...

GEORGIA REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. Deed - -Document used to transfer title. Title - -Land+ deed, (who are the owners and what are their rights?) Real Estate - -Land+appurtenances (right or improvement attached to the land) Two types of characteristics of land: - -Physical & economic What are the physical characteristics of land? - -Immovable, indestructible,unique(non-homogenous) What are the economic characteristics of land? - -Scarcity, improvab...

GEORGIA REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. Accrued interest on loan assumed. - -Which of the following costs is usually a credit on the estimated purchaser's cost worksheet? Hazard insurance is - -prepaid in advance negotiable between the buyer and seller - -The payment of the intangibles taxes are: If neither Baird or Carr are licensed as brokers, a qualifying broker must be hired and must be named as an officer of the corporation - -Licensees Baird a...