Things I Got Wrong

Question 1

Personal property

Answer 1

Things that are moveable

Can also be called chattels or personality

Question 2

Severance

Answer 2

Detaching from land real property or personal

Question 3

Annexation

Answer 3

Attaching item to property this creates a fixture

Question 4

Emblements

Answer 4

Annual crops that belong to the tenant

Question 5

Correlative use

Answer 5

Allows a property owner use of understand water for irrigation

Question 6

Accretion

Answer 6

Soul is brought by water and increases size of the property

Question 7

Estate at will

Answer 7

Can be ended at anytime by either party it is indefinite

Question 8

Calculating GRMs

Answer 8

Purchase Price/ Annual rental income

Question 9

Condemnation

Answer 9

Title is transferred from owner to government

Question 10

Implied Easement

Answer 10

Created by the courts

Question 11

Express Grant

Answer 11

Pay a neighbor to go over their property line if you need to build something

Question 12

Express Reservation

Answer 12

Owner of a big piece of land breaks into two or more pieces places an easement to allow access

Question 13

Constructive Eviction

Answer 13

Landlord does something or fails to do something and the tenant leaves

Question 14

Periodic Tenancy

Answer 14

Notice must be given

Month to month
Week to week
Year to year

Question 15

Estate for years

Answer 15

Fixed period of time beginning and end date

Question 16

Material facts

Answer 16

Physical condition of property

Question 17

Conventional life estate

Answer 17

Tied in duration to the life of the owner

Question 18

Multiple violations the commission and fine you

Answer 18

5,000.00

Question 19

A co-op owner owns

Answer 19

A proprietary lease

Question 20

The Georgia uniform deceptive trade practices act

Answer 20

Covers a range of deceptive practices under which a consumer transaction takes place

Question 21

Hours of classroom study for broker

Answer 21

60

Question 22

Executors

Answer 22

Contract has yet to be preformed

Question 23

Invest rate of return question

Answer 23

Take income per year/ Percent return

Question 24

When question asks “reciprocal”

Answer 24

It is the opposite so 8/100 becomes 100/8

Question 25

Cost basis of a property

Answer 25

This is the same as the selling price

Question 26

Rate of profit

Answer 26

Profit/purchase price

Question 27

Ostensible agency

Answer 27

Relationship is created by actions of the parties. 3rd party would reasonably believe an agency agreement exists

Question 28

Commission complaints against agents

Answer 28

When someone wants to file a complaint it can be anyone. A formal complaint needs to be filed for an investigation DO NOT need notoriety.

Question 29

The commission has 6 members appointed by the governor

5 year terms only one can expire per year

Licensed fir at least 5 years

One has no intrastate in real estate

Answer 29

The Real Estate commissioner is NOT a member of the real estate commission in GA