Georgia real Exam Bundle questions and answers Rated A+

What is the purpose of a legal description of property? - ANSWER-To accurately locate and identify the BOUNDARIES of a parcel of property to a degree acceptable by courts of law ____ is a legal description of a parcel of land that begins at a well-marked point and follows the boundaries, using di...

An owner sold his 20 unit aparmtnet building. Which is true? - ANSWER-The existing lease agreements must be honored by the new owner "I hear they're moving in, theres goes the neighborhood!" - ANSWER-Blockbusting According to do-not-call legislation, when customer makes an inquiry, agent ma...

real estate license exemptions - ANSWER-An owner of real estate, the spouse of an owner, a general partner of a limited partnership, a landlord, or a prospective purchaser OR their regular employees OR spouses An attorney in fact under a duly executed power of attorney to convey real estate from th...

Accession - ANSWER-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 - ANSWER-A measure of land area equal to 43560 square feet. 43560 - ANSWER-The number of squarefeet in one acre. Act...

Easement by prescription - ANSWER-Easement acquired by continuous open and hostile use of the property for the period of time prescribed by state law Easement by necessity - ANSWER-Easement allowed by law as necessary for the full enjoyment of parcel of real estate .(right of ingress and egress o...

Deed - ANSWER-Document used to transfer title. Title - ANSWER-Land+ deed, (who are the owners and what are their rights?) Real Estate - ANSWER-Land+appurtenances (right or improvement attached to the land) Two types of characteristics of land: - ANSWER-Physical & economic What are the ph...

Accrued interest on loan assumed. - ANSWER-Which of the following costs is usually a credit on the estimated purchaser's cost worksheet? Hazard insurance is - ANSWER-prepaid in advance negotiable between the buyer and seller - ANSWER-The payment of the intangibles taxes are: If neither Bai...

Angie owns a four-plex. She lives in one unit and rents out the others - ANSWER-Which of the following may represent an exemption from Georgia fair housing laws Kiting - ANSWER-Representing the sale price on a home as an amount greater than what it actually sold for is considered Providing fin...

estate licensees enter into employment agreement Georgia Real Estate Commission members serve terms of four years. five years and serve until a replacement is named. two years and may serve three terms three years and may serve two terms. - ANSWER-five years and serve until a replacement is named....

Title - ANSWER-Document that shows ownership Alienation - ANSWER-To sell or convey Transfer: change of ownership Legal Title - ANSWER-Ownership with right of possession and use Equitable Title - ANSWER-Right to legal title upon completion of contract Buyer receives after they go into co...

Best describes parcel of land - ANSWER-the surface of the earth extending down to the center and upward to infinity Determining if Fixture, NOT considered - ANSWER-Value of item Characteristic in difference btwn personal prop. from real property. - ANSWER-mobility When used in deed or other...

Based on the ability to accept assignments, which appraiser has the most latitude? - ANSWER-certified general Which state agency is responsible for the implementation of the Georgia Lead Paint Prevention Act of 1994? - ANSWER-GA Dept of Natural Resources How far back does a normal Georgia titl...

Legal competency age in Georgia is: a. 15 b. 18 c. 21 d. 16 - ANSWER-B. What does BRRETA stand for? a. The Brokerage Real Estate Training Act b. The Brokerage Real Estate Transactions Act c. The Brokerage Relationships in Real Estate Transactions Act d. The Georgia Basic Relationships in ...

When you list an owner's property for sale you owe them client level services, fiduciary services which include - ANSWER-confidentiality, loyalty, obedience, full disclosure a recent appraisal on a property reveals that a home has a leaking roof, dirty carpeting, updated granite countertops, cen...