Georgia Real Estate Exam Study Guide.pdf file:///C:/Users/HP/Desktop/TYPA%20NEW/Georgia%20Real%20E
Georgia Real Estate Exam Study Guide
1. Accession
ANS The acquisition of title by the owner of real property to those thingsattached to the
property by others, such as tenants, trespassers, or by nature.
2. Acre
ANS A measure of land area equal to 43560 square feet.
3. 43560
ANS The number of squarefeet in one acre.
4. Active License
ANS Status of an individual who has met all qualifications to practicereal estate as a broker,
associate broker, or salesperson; and such license is held by a broker, rather than by the
Commission.
5. Air Lot
ANS A designated air space over a parcel of land. In condominiums, eachindividual unit
occupies a separate one.
6. Air Rights
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ANS The right to use and enjoy the air space above a parcel of land. Suchrights may be leased or
sold separately from the land.
7. Appurtenance
ANS Anything that may be used with the land for its benefit and goesto the new owner when
ownership of the land is transferred. Mineral rights, air rights, water rights, easements,
improvements, and natural attachments are examples.
8. Artificial Monuments
ANS Man-made objects such as streets, fences, iron pins,concrete posts, etc.
9. Associate Broker
ANS A person who has met all qualifications to be licensed asa broker, but who elects to act
on behalf of another broker in performing any actauthorized by law to be performed by a
broker.
10. Attorney General
ANS Legal counsel for the state. Whenever the Commission be-lieves a serious violation of the
License Law has occurred, the may
bring an action in the name of the state to enforce compliance.
11. Baseline
ANS Certain reference lines which run east and west; used in rectangularsurvey system to
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locate land.
12. Bench Mark
ANS A permanent reference point of known location used by surveyors.A may be a point
established by a government survey team or a fixed monumentsuch as a road right-of-way.
13. Bill of Sale
ANS A document which conveys ownership to personal property.
14. Broker
ANS An individual or legal entity licensed to act as the agent of another in buying, selling,
exchanging, renting, leasing, managing, or auctioning real estate foranother.
15. Call
ANS The compass direction and distance for each boundary line.
16. Censure
ANS Disciplinary power of the Commission whereby it reprimands a li-censee, usually for
technical violations occurring for the first time.
17. Chattel
ANS Personal property.
18. Closure
ANS The metes and bounds legal description must return to the point ofbeginning or the
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description is incomplete.
19. Co-brokering
ANS Participation of more than one broker in a real estate transaction.
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