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Study sets matching "georgia real estate"

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Study sets matching "georgia real estate"

430 terms
Georgia Real Estate Salesperson
Chattels Real
Chattels Personal
Real Estate
Real Property
leases,mortgages, contracts, deeds - ownership of real property
personal property, Bill of Sale
The land itself plus permanent attachments
Real estate plus the legal rights and interests that go along…
Chattels Real
leases,mortgages, contracts, deeds - ownership of real property
Chattels Personal
personal property, Bill of Sale
169 terms
Georgia Real Estate License
Alienation
Voluntary Alienation
Deed of Conveyance
Will
Any type of transfer of ownership of real property.
may occur by means of deeds, wills, dedications, and public g…
most common way of acquiring a title to real property and is…
a written instrument whereby an individual provides for the t…
Alienation
Any type of transfer of ownership of real property.
Voluntary Alienation
may occur by means of deeds, wills, dedications, and public g…
11 terms
Georgia real estate practice
In Georgia which of the following type…
In Georgia a buyer of a condominium or…
In Georgia the Georgia timeshare act r…
It is a good business practice to take…
Tenancy by entirety
7
Public offering statement
Grantor grantee Index
In Georgia which of the following type…
Tenancy by entirety
In Georgia a buyer of a condominium or…
7
106 terms
Georgia Real Estate Terminology
Exclusive Agency
Transfer Tax
Intangible Tax
Principal Meridian
Makes the broker the exclusive agent for the buyer----no matt…
a tax paid by a buyer or seller each time a property is trans…
Loan taxes
A north-south line designated in the Land Ordinance of 1785 t…
Exclusive Agency
Makes the broker the exclusive agent for the buyer----no matt…
Transfer Tax
a tax paid by a buyer or seller each time a property is trans…
267 terms
Georgia Real Estate Exam
personal property
chattels personal
chattels real
deed
are the items the seller can load into the van when moving af…
refers to cars, boats, furniture, clothes, stocks, money and…
items that extend to owner an interest in real property; leas…
is how real property is transferred
personal property
are the items the seller can load into the van when moving af…
chattels personal
refers to cars, boats, furniture, clothes, stocks, money and…
163 terms
Real Estate Vocabulary Georgia
Property
Bundle of legal rights
Personal Property
Real Estate
Rights and interests the owner has in the object owned
Right of possession, enjoyment, control and disposition
Mobility; Chattels Personal-cars, boats, furniture, clothes,…
Land plus things permanently attached to the land by man (bui…
Property
Rights and interests the owner has in the object owned
Bundle of legal rights
Right of possession, enjoyment, control and disposition
139 terms
Georgia Real Estate Quizes
Deficiency judgement
"Subject to" the mortgage
Promissory note
Assumption of the mortgage
The money the defaulting mortgage still owes the lender after…
When a new buyer is not personally liable for repaymet of the…
Written promise to repay money.
When a new buyer agrees to pay the existing mortgage.
Deficiency judgement
The money the defaulting mortgage still owes the lender after…
"Subject to" the mortgage
When a new buyer is not personally liable for repaymet of the…
76 terms
Georgia real estate exam
Easement by prescription
Easement by necessity
Rescission
Mortgagee
Easement acquired by continuous open and hostile use of the p…
Easement allowed by law as necessary for the full enjoyment o…
The practice of one party canceling or terminating a contract.
The bank(receiving the house)
Easement by prescription
Easement acquired by continuous open and hostile use of the p…
Easement by necessity
Easement allowed by law as necessary for the full enjoyment o…
24 terms
Real Estate Leases in Georgia
Lease
Leasehold estate
Inheritable lease
Periodic estate
An agreement between a landlord or real estate owner (the les…
A tenant's right to occupy a property
Doesn't terminate upon the death of either party; parties' he…
A lease for a definite period of time with an automatic renew…
Lease
An agreement between a landlord or real estate owner (the les…
Leasehold estate
A tenant's right to occupy a property
253 terms
Georgia Real Estate
Industrial real estate includes
Mixed-use real estate is property that…
Schools are considered part of which r…
All of the following would affect dema…
warehouses, factories, land in industrial districts, and powe…
two uses, commercial and residential, in the same building.
Special purpose
fiscal policy
Industrial real estate includes
warehouses, factories, land in industrial districts, and powe…
Mixed-use real estate is property that…
two uses, commercial and residential, in the same building.
430 terms
Georgia Real Estate Salesperson
Chattels Real
Chattels Personal
Real Estate
Real Property
leases,mortgages, contracts, deeds - ownership of real property
personal property, Bill of Sale
The land itself plus permanent attachments
Real estate plus the legal rights and interests that go along…
Chattels Real
leases,mortgages, contracts, deeds - ownership of real property
Chattels Personal
personal property, Bill of Sale
269 terms
Georgia Real Estate Terms
Personal Property
Chattels Personal
Chattels Real
Deed
Items the seller can load into the van when moving after the…
Refers to cars, boats, furniture, clothes, stocks, money and…
Items that extend to owner an interest in real property; leas…
Instrument used to transfer real property
Personal Property
Items the seller can load into the van when moving after the…
Chattels Personal
Refers to cars, boats, furniture, clothes, stocks, money and…
Real estate georgia
Seller
Buyer
Severance
Grantor
Grantor
Grantee
Real property changed to personal property
Who signs the deed
Seller
Grantor
Buyer
Grantee
127 terms
Georgia Principles of Real Estate
Appurtenance
Assemblage
Bill of sale
Bundle of rights
Runs with the land. A right, privilege, or improvement belong…
Combining of adjoining separate parcels of land into a single…
An instrument that transfers title to personal property "chat…
Legal rights that go with the ownership of property
Appurtenance
Runs with the land. A right, privilege, or improvement belong…
Assemblage
Combining of adjoining separate parcels of land into a single…
256 terms
georgia real estate
People who sell real estate for others…
who can be licensed as a real estate b…
what is not a real estate license cate…
a real estate listing is a contract be…
must be licensed in order to collect compensation
a corporation, a partnership, an actual person
attorney in fact
the owner and the listing broker
People who sell real estate for others…
must be licensed in order to collect compensation
who can be licensed as a real estate b…
a corporation, a partnership, an actual person
34 terms
Real Estate Georgia
Emblements
Chattels
Tenancy in Common
Joint Tenancy
Annual crops cultivated by a tenant which are treated as the…
An article of movable personal property.
A way for two or more people to have equal ownership interest…
joint tenancy is a special form of ownership by two or more p…
Emblements
Annual crops cultivated by a tenant which are treated as the…
Chattels
An article of movable personal property.
309 terms
Hondros learning Georgia Real Estate
appraisal
actual annexation
Air rights
annexation
An opinion of value of adequately defined real property as of…
The process of physically attaching personal property to land…
The right to undisturbed use and control of airspace over a p…
The process of attaching personal property to land so the law…
appraisal
An opinion of value of adequately defined real property as of…
actual annexation
The process of physically attaching personal property to land…
13 terms
Georgia Real Estate Ch. 8
Binder
Default
Earnest Money Deposit
Equitable Title
A short purchase contract used to secure a real estate transa…
Failure to perform a legal duty, such as failure to carry out…
Money that accompanies an offer to purchase as evidence of go…
The legally assured future interest in legal title
Binder
A short purchase contract used to secure a real estate transa…
Default
Failure to perform a legal duty, such as failure to carry out…
34 terms
Real Estate Georgia
Emblements
Chattels
Tenancy in Common
Joint Tenancy
Annual crops cultivated by a tenant which are treated as the…
An article of movable personal property.
A way for two or more people to have equal ownership interest…
joint tenancy is a special form of ownership by two or more p…
Emblements
Annual crops cultivated by a tenant which are treated as the…
Chattels
An article of movable personal property.
34 terms
Real Estate Georgia
Emblements
Chattels
Tenancy in Common
Joint Tenancy
Annual crops cultivated by a tenant which are treated as the…
An article of movable personal property.
A way for two or more people to have equal ownership interest…
joint tenancy is a special form of ownership by two or more p…
Emblements
Annual crops cultivated by a tenant which are treated as the…
Chattels
An article of movable personal property.
112 terms
Georgia Real Estate Vocabulary Terms
Abstract of Title
Acceleration Clause
Accession
Accrued Depreciation
The condensed history of a title to a particular parcel of re…
The clause in a mortgage or deed of trust that can be enforce…
Acquiring title to additions or improvements to real property…
Loss in value resulting from the property's physical deterior…
Abstract of Title
The condensed history of a title to a particular parcel of re…
Acceleration Clause
The clause in a mortgage or deed of trust that can be enforce…
256 terms
georgia real estate
People who sell real estate for others…
who can be licensed as a real estate b…
what is not a real estate license cate…
a real estate listing is a contract be…
must be licensed in order to collect compensation
a corporation, a partnership, an actual person
attorney in fact
the owner and the listing broker
People who sell real estate for others…
must be licensed in order to collect compensation
who can be licensed as a real estate b…
a corporation, a partnership, an actual person
13 terms
Georgia Real Estate Fair Housing
Civil Rights Act of 1866
Fair Housing Act
Familial Status
Housing for Older Persons Act (HOPA)
This law prohibits discrimination based on race in every prop…
The Civil Rights Act of 1968, the Housing and Community Devel…
The presence of one or more persons under the age of 18 livin…
Law repealing requirement that housing for those 55 and older…
Civil Rights Act of 1866
This law prohibits discrimination based on race in every prop…
Fair Housing Act
The Civil Rights Act of 1968, the Housing and Community Devel…
13 terms
Georgia Real Estate Fair Housing
Civil Rights Act of 1866
Fair Housing Act
Familial Status
Housing for Older Persons Act (HOPA)
This law prohibits discrimination based on race in every prop…
The Civil Rights Act of 1968, the Housing and Community Devel…
The presence of one or more persons under the age of 18 livin…
Law repealing requirement that housing for those 55 and older…
Civil Rights Act of 1866
This law prohibits discrimination based on race in every prop…
Fair Housing Act
The Civil Rights Act of 1968, the Housing and Community Devel…
20 terms
Georgia Real Estate Exam
Real Property
O.C.G.A
Real Property In Georgia
Riparian Rights
Land and buildings erected on the land, all things permanentl…
The official Code of Georgia Annotated which is a compilation…
Statutory citation for the definition of real property in Geo…
If real property is located adjacent to a waterway, the prope…
Real Property
Land and buildings erected on the land, all things permanentl…
O.C.G.A
The official Code of Georgia Annotated which is a compilation…
108 terms
Georgia real estate exam
Appurtenance
Assemblage
Bill of sale
Bundle of rights
All of the rights, privileges, and improvements belonging to…
The combining of adjoining separate parcels of land into a si…
An instrument that transfers title to personal property (chat…
Legal rights that go with the ownership of property
Appurtenance
All of the rights, privileges, and improvements belonging to…
Assemblage
The combining of adjoining separate parcels of land into a si…
136 terms
Georgia Real Estate Exam
Deed
Title
Real Estate
Two types of characteristics of land:
Document used to transfer title.
Land+ deed, (who are the owners and what are their rights?)
Land+appurtenances (right or improvement attached to the land)
Physical & economic
Deed
Document used to transfer title.
Title
Land+ deed, (who are the owners and what are their rights?)
61 terms
Georgia Principle of Real Estate 2
Title
Estate
Lien
Easement
The sum of all facts upon which ownership is based
Degree duration nature and extent of a person's interest in r…
A claim against property of another as security for a debt or…
A specified and limited right to use another's property
Title
The sum of all facts upon which ownership is based
Estate
Degree duration nature and extent of a person's interest in r…
6 terms
GEORGIA REAL ESTATE CHAPTER 15
CLOSING
CLOSING AGENT
PRORATING
REAL ESTATE SETTLEMENT PROCEDURES ACT…
A MEETING AT WHICH THE BUYER PAYS FOR THE PROPERTY AND RECEIV…
THE PERSON PLACE IN CHARGE OF CLOSING A REAL ESTATE TRANSACTION
THE DIVISION OF ONGOING EXPENSES AND INCOME ITEMS BETWEEN THE…
A FEDERAL LAW THAT DEALS WITH PROCEDURES TO BE FOLLOWED IN CE…
CLOSING
A MEETING AT WHICH THE BUYER PAYS FOR THE PROPERTY AND RECEIV…
CLOSING AGENT
THE PERSON PLACE IN CHARGE OF CLOSING A REAL ESTATE TRANSACTION
267 terms
Georgia Real Estate Exam JH
personal property
chattels personal
chattels real
deed
are the items the seller can load into the van when moving af…
refers to cars, boats, furniture, clothes, stocks, money and…
items that extend to owner an interest in real property; leas…
is how real property is transferred
personal property
are the items the seller can load into the van when moving af…
chattels personal
refers to cars, boats, furniture, clothes, stocks, money and…
9 terms
Chapter 24 Georgia Real Estate
Agency
Brokerage Engagement
Citation
Client
The Relationship between a broker and a client
The written agreement creating an agency
Issued by the commission as a penalty instead of imposing a s…
A person who has entered into a brokerage engagement
Agency
The Relationship between a broker and a client
Brokerage Engagement
The written agreement creating an agency
9 terms
Chapter 21 Georgia Real Estate
Bylaws
CC&R's
Common Elements
Condominium
Rules that govern how an owners' association will be run
Covenants, conditions, and restrictions by which a property o…
Those parts of a condominium that are owned by all the unit o…
Individual ownership of a space of air plus undivided ownersh…
Bylaws
Rules that govern how an owners' association will be run
CC&R's
Covenants, conditions, and restrictions by which a property o…
161 terms
Georgia Real Estate Exam Vocabulary
Title
Alienation
Legal Title
Equitable Title
Document that shows ownership
To sell or convey ... Transfer: change of ownership
Ownership with right of possession and use
Right to legal title upon completion of contract ... Buyer recei…
Title
Document that shows ownership
Alienation
To sell or convey ... Transfer: change of ownership
13 terms
Chapter 25 Georgia Real Estate
Boycotting
BRRETA
CAM
Commercial Real Estate Broker Lien Act
The elimination of competition by refusal to allow membership…
Brokerage Relationships in Real Estate Transactions Act; gove…
Community Association Manager; one who manages owner associat…
A Georgia Act that allows a broker to lien a property to prot…
Boycotting
The elimination of competition by refusal to allow membership…
BRRETA
Brokerage Relationships in Real Estate Transactions Act; gove…
9 terms
Chapter 4 Georgia Real Estate
Community Property
Concurrent Ownership
Estate in Severalty
Four Unities
Spouses are treated as equal partners, with each owning one-h…
Ownership by two or more persons at the same time
Owned by one person; Sole Ownership. Severalty means "severed"
For Joint Tenancy, unities of possession, interest, title, an…
Community Property
Spouses are treated as equal partners, with each owning one-h…
Concurrent Ownership
Ownership by two or more persons at the same time
9 terms
Chapter 23 Georgia Real Estate
Associate Broker
Broker
Brokerage Agreement
Commission
Any person who meets the requirements of a broker but chooses…
A person who provides acts of licensure for another for compe…
The written contract between a broker and a client; also call…
The Georgia Real Estate Commission, which is made up of six m…
Associate Broker
Any person who meets the requirements of a broker but chooses…
Broker
A person who provides acts of licensure for another for compe…
8 terms
Chapter 11 Georgia Real Estate
APR
Credit Report
Fair Credit Reporting Act
Finance Charge
The annual percentage rate as calculated under the Federal Tr…
A report reflecting the creditworthiness of a borrower by sho…
Federal Law giving an individual the right to inspect his or…
The total amount the credit will cost over the life of the loan
APR
The annual percentage rate as calculated under the Federal Tr…
Credit Report
A report reflecting the creditworthiness of a borrower by sho…
15 terms
Chapter 5 Georgia Real Estate
Adverse Possession
Bargain and Sale Deed
Cloud on the title
Color of Title
Acquisition of land through prolonged and unauthorized occupa…
A deed that contains no covenants but does imply that the gra…
Any claim, lien, or encumbrance that impairs title to property
Some plausible but not completely clear-cut indication of own…
Adverse Possession
Acquisition of land through prolonged and unauthorized occupa…
Bargain and Sale Deed
A deed that contains no covenants but does imply that the gra…
11 terms
Chapter 14 Georgia Real Estate
Ad Valorem Taxes
Amount Realized
Assessed Value
Assessment Appeal Board
Taxes charged according to the value of a property
The sales price of a property less commissions and closing co…
A value placed on a property for the purpose of taxation
Local governmental body that hears and rules on property owne…
Ad Valorem Taxes
Taxes charged according to the value of a property
Amount Realized
The sales price of a property less commissions and closing co…
13 terms
Chapter 1 Georgia Real Estate
Broker
Independent Contractor
License Reciprocity
License Suspension
One who acts as an agent for others in negotiating contracts…
One who contracts to do work according to his or her own meth…
When one state honors another's license
To temporarily make a license ineffective
Broker
One who acts as an agent for others in negotiating contracts…
Independent Contractor
One who contracts to do work according to his or her own meth…
66 terms
Chapter 17 Georgia Real Estate
Appraisal
Capitalize
Comparables
Cost Approach
The estimate of the value of something
To convert future income to current value
Properties similar to the subject property that have sold rec…
Land Value plus current construction costs minus depreciation
Appraisal
The estimate of the value of something
Capitalize
To convert future income to current value
8 terms
Chapter 19 Georgia Real Estate
Advance Fee Listing
Broker
Exclusive Authority to Purchase
Exclusive Right-to-Sell
Listing in which a broker gets paid in advance and charges an…
One who acts as an agent for others in negotiating contracts…
Listing utilized by buyer's brokers
A listing that gives the broker the right to collect a commis…
Advance Fee Listing
Listing in which a broker gets paid in advance and charges an…
Broker
One who acts as an agent for others in negotiating contracts…
15 terms
Chapter 10 Georgia Real Estate
Amortized Loan
Balloon Loan
Conventional Loans
Equity
A loan requiring periodic payments that include both interest…
Any loan in which the final payment is larger than the preced…
Real Estate Loans that are now insured by the FHA or guarante…
The market value of a property less the debt against it
Amortized Loan
A loan requiring periodic payments that include both interest…
Balloon Loan
Any loan in which the final payment is larger than the preced…
9 terms
Chapter 22 Georgia Real Estate
Building Codes
Certificate of Occupancy
Downzoning
Land-Use-Control
Local and state laws that set minimum construction standards
A government-issued document that states that a structure mee…
Rezoning of land from a higher-density use to a lower-density…
A broad term that describes any legal restriction that contro…
Building Codes
Local and state laws that set minimum construction standards
Certificate of Occupancy
A government-issued document that states that a structure mee…
11 terms
Chapter 20 Georgia Real Estate
Americans with Disabilities Act (ADA)
Block Busting
Civil Rights Act of 1866
Community Reinvestment Act (CRA)
A federal law giving disabled individuals the right to access…
The illegal practice of inducing panic selling in a neighborh…
Federal law that prohibits discrimination in buying, holding,…
Federal statute encouraging federally regulated lenders to in…
Americans with Disabilities Act (ADA)
A federal law giving disabled individuals the right to access…
Block Busting
The illegal practice of inducing panic selling in a neighborh…
28 terms
Chapter 18 Georgia Real Estate
Agency
Agent
Boycotting
Commingling
Created when the principal delegates to the agent the right t…
The person empowered to act by and on behalf of the principal
Two or more people conspiring to restrain competition
The mixing of clients' or customers' funds with an agent's pe…
Agency
Created when the principal delegates to the agent the right t…
Agent
The person empowered to act by and on behalf of the principal
12 terms
Chapter 6 Georgia Real Estate
Abstract of Title
Acknowledgment
Actual Notice
Chain of Title
A summary of all recorded documtents affecting title to a giv…
A formal delaration by a person signing a document that he or…
Knowlege gained from what one has actually seen, heard, read,…
A linkage of property ownership that connects the present own…
Abstract of Title
A summary of all recorded documtents affecting title to a giv…
Acknowledgment
A formal delaration by a person signing a document that he or…
15 terms
Chapter (Formulas) Georgia Real Estate
Property Tax Proration Formula
Tax Escrow
Annual PMI Premium
Transfer Tax
(Annual Tax Bill / 365) x Days Owed
Annual Tax Bill / 12 x Number of months required
Loan Amount x Required Percentages
Sales Price - Loan Assumed / 100
Property Tax Proration Formula
(Annual Tax Bill / 365) x Days Owed
Tax Escrow
Annual Tax Bill / 12 x Number of months required
12 terms
Chapter 13 Georgia Real Estate
Adjustable Rate Mortgage (ARM)
Affordable Housing Loan
Blanket Mortgage
Construction Loan
A mortgage on which the interest rate rises and falls with ch…
An umbrella term that covers many slightly different loans th…
A mortgage secured by two or more properties
Short-Term loan for New Construction or remodeling of an exis…
Adjustable Rate Mortgage (ARM)
A mortgage on which the interest rate rises and falls with ch…
Affordable Housing Loan
An umbrella term that covers many slightly different loans th…
13 terms
Chapter 8 Georgia Real Estate
Binder
Default
Earnest Money Deposit
Equitable Title
A short purchase contract used to secure a real estate transa…
Failure to perform a legal duty, such as failure to carry out…
Money that accompanies an offer to purchase as evidence of go…
The legally assured future interest in legal title
Binder
A short purchase contract used to secure a real estate transa…
Default
Failure to perform a legal duty, such as failure to carry out…
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