Georgia Pre-Licensing Flashcards

The right to all that one's property produces, including additions to the property.

<p>The gradual increase in land area through deposits of soil by natural forces.</p> Signup and view all the answers

<p>43,560 square feet</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>Taxes calculated according to the assessed value of real estate.</p> Signup and view all the answers

<p>Adjustable-rate mortgage (ARM)</p> Signup and view all the answers

<p>Involuntary transfer of title due to non-use of land over time.</p> Signup and view all the answers

<p>A mutual binding understanding that authorizes one party to act on behalf of another.</p> Signup and view all the answers

<p>An individual with authority to act on behalf of another, requiring a state license.</p> Signup and view all the answers

<p>The right to use the airspace above the surface of land.</p> Signup and view all the answers

<p>The transfer of ownership to real property, which can be voluntary or involuntary.</p> Signup and view all the answers

<p>A federal civil rights law prohibiting discrimination against individuals with disabilities.</p> Signup and view all the answers

<p>Paying off a debt in regular installments</p> Signup and view all the answers

<p>How much the borrower will pay in interest over the course of a year.</p> Signup and view all the answers

<p>Laws designed to prevent unfair or anti-competitive practices.</p> Signup and view all the answers

<p>An estimation of a property's value performed by a certified appraiser.</p> Signup and view all the answers

<p>The increase in the value of a property.</p> Signup and view all the answers

<p>Rights that run with real property ownership.</p> Signup and view all the answers

<p>True</p> Signup and view all the answers

<p>Combining multiple contiguous pieces of real property into one tract.</p> Signup and view all the answers

<p>The value placed on a property by a governmental unit for taxation.</p> Signup and view all the answers

<p>The determination of the value of a property for tax purposes.</p> Signup and view all the answers

<p>An item of value.</p> Signup and view all the answers

<p>The transference of rights and obligations in a contract from one party to another.</p> Signup and view all the answers

<p>An individual licensed as a broker who provides services as an independent contractor.</p> Signup and view all the answers

<p>The sudden loss of land typically due to flooding or changes in a river's course.</p> Signup and view all the answers

<p>A payment at the end of a loan period that includes the total outstanding balance.</p> Signup and view all the answers

<p>A deed without warranties against encumbrances implying the grantor has possession.</p> Signup and view all the answers

<p>An imaginary line of latitude used to identify townships.</p> Signup and view all the answers

<p>Permanent markers of known location and elevation used in surveys.</p> Signup and view all the answers

<p>The recipient of advantage or gain from an instrument like a trust or will.</p> Signup and view all the answers

<p>A contract where both parties are obligated to perform in an exchange of promises.</p> Signup and view all the answers

<p>A preliminary agreement for the sale of a property secured by a deposit.</p> Signup and view all the answers

<p>A loan where more than one property acts as collateral.</p> Signup and view all the answers

<p>A legal land description system identifying property by section, lot, and block numbers.</p> Signup and view all the answers

<p>False</p> Signup and view all the answers

<p>Any office geographically separate from the main office.</p> Signup and view all the answers

<p>A short-term loan used to transition between loans or property sales.</p> Signup and view all the answers

<p>A person licensed to represent one of the parties in a transaction.</p> Signup and view all the answers

<p>Real property potentially complicated by hazardous substances.</p> Signup and view all the answers

<p>A set of regulations regarding building design and safety.</p> Signup and view all the answers

<p>Ownership of land with all legal rights of possession and control.</p> Signup and view all the answers

<p>Paying money upfront to reduce a loan's interest rate.</p> Signup and view all the answers

<p>A market with an excess of sellers creating favorable conditions for buyers.</p> Signup and view all the answers

<p>An expense paid to improve a property.</p> Signup and view all the answers

<p>An upgrade or improvement to a property going beyond normal repair.</p> Signup and view all the answers

<p>A rate of return based on expected annual income over a property's value.</p> Signup and view all the answers

<p>An odorless, colorless gas produced from incomplete combustion.</p> Signup and view all the answers

<p>A portion of funds set aside for variable expenses.</p> Signup and view all the answers

<p>Comprehensive Environmental Response, Compensation, and Liability Act.</p> Signup and view all the answers

<p>A legal document that authorizes a building to be occupied after inspection.</p> Signup and view all the answers

<p>A document detailing the chain of title and offering an opinion on marketability.</p> Signup and view all the answers

<p>The entire chronological record of a property's ownership.</p> Signup and view all the answers

<p>A chemical compound formerly used in pesticides that is dangerous to health.</p> Signup and view all the answers

<p>Chemical compounds once used in refrigerants and air conditioners.</p> Signup and view all the answers

<p>To prohibit discrimination in housing based on race.</p> Signup and view all the answers

<p>A claim to or encumbrance on the title that affects transferability.</p> Signup and view all the answers

<p>Property pledged to secure a loan.</p> Signup and view all the answers

<p>An unlawful agreement between competitors to manipulate the market.</p> Signup and view all the answers

<p>A defective title transfer that is unknown to the new owner.</p> Signup and view all the answers

<p>The illegal mixing of personal funds with a client's funds.</p> Signup and view all the answers

<p>The regulatory body responsible for regulating brokerage and licensing.</p> Signup and view all the answers

<p>Portions of a shared property not controlled by any one owner.</p> Signup and view all the answers

<p>Law that arises from court decisions rather than legislation.</p> Signup and view all the answers

<p>Provides administrative services to a community association.</p> Signup and view all the answers

<p>A system of property co-ownership for married couples.</p> Signup and view all the answers

<p>A property similar enough to inform the value of another property.</p> Signup and view all the answers

<p>Compares recently sold properties to estimate market value.</p> Signup and view all the answers

<p>Property where each owner has a separate interest in their unit.</p> Signup and view all the answers

<p>Something of value exchanged as evidence of agreement.</p> Signup and view all the answers

<p>A temporary loan used to finance a construction project.</p> Signup and view all the answers

<p>Termination of a lease due to landlord default making premises unusable.</p> Signup and view all the answers

<p>When ownership is publicly recorded, making it known to all.</p> Signup and view all the answers

<p>A provision that makes performance conditional upon a stated event.</p> Signup and view all the answers

<p>A legally enforceable agreement between parties.</p> Signup and view all the answers

<p>A sales contract where the buyer pays in installments and the seller holds the title.</p> Signup and view all the answers

<p>The market value added to a property by an improvement.</p> Signup and view all the answers

<p>A life estate based on the life of the tenant.</p> Signup and view all the answers

<p>A loan that is not insured or guaranteed by the government.</p> Signup and view all the answers

<p>Changing real property to personal property, and vice versa.</p> Signup and view all the answers

<p>An instrument that transfers a grantor's interest in real property.</p> Signup and view all the answers

<p>An agency arrangement where two brokerages collaborate on a transaction.</p> Signup and view all the answers

<p>Repairing equipment after it has broken.</p> Signup and view all the answers

<p>Estimating property value based on replacement costs minus depreciation.</p> Signup and view all the answers

<p>A proposal submitted in response to a previous offer, changing the terms.</p> Signup and view all the answers

<p>That the grantor holds the title conveyed in the deed.</p> Signup and view all the answers

<p>Private restrictions dictating homeowner property use.</p> Signup and view all the answers

<p>Information regarding an individual's credit history and status.</p> Signup and view all the answers

<p>Sum of money that is received.</p> Signup and view all the answers

<p>A spouse's right to inherit property held in the spouse's name.</p> Signup and view all the answers

<p>An individual with whom there is no agency relationship.</p> Signup and view all the answers

<p>A base reference point for determining land elevations.</p> Signup and view all the answers

<p>Sum of money that is owed.</p> Signup and view all the answers

<p>Current debt obligations.</p> Signup and view all the answers

<p>A measure used to evaluate income-producing properties.</p> Signup and view all the answers