Untitled Deck Flashcards
What fiduciary duty does a real estate broker owe to a client in Georgia?
A real estate broker in Georgia owes no fiduciary duty to a client, only a responsibility to exercise reasonable care in the discharge of specified duties.
What are the requirements for executing a valid deed in Georgia?
A valid deed requires a writing signed by the grantor, an unambiguous description of the land, identification of the parties, and words of intent to transfer, such as ‘grant.’
Is attestation by witnesses required for a deed to be valid in Georgia?
Attestation by witnesses is generally unnecessary for the validity of a deed, but may be required for recording depending on jurisdiction.
What happens if a deed is not attested in Georgia?
An unattested deed is valid between the parties but cannot be recorded.
What is the consideration requirement for deeds in Georgia?
A deed without actual consideration will be valid if a nominal consideration is recited or if the conveyance was intended as a gift.
What does Georgia’s Uniform Electronic Transactions Act recognize?
It recognizes the validity of an electronic signature, including an electronic notary signature, on most documents.
How can land be transferred to a public body in Georgia?
Land may be transferred by dedication, which can be made by written or oral statement, submission of a map, or opening the land to public use.
What is required for a developer to convey title in subdivision roads in Georgia?
The developer must make an express grant to the county or other governmental authorities.
Can remote grantees enforce present covenants in Georgia?
In Georgia, the purchaser of land obtains all rights held by a former owner, including present covenants, unless expressly prohibited.
How are damages measured for breach of covenant in Georgia?
Damages are measured by the purchase price; for a deed of gift, the value of the land at the time of the gift is used.
What is the statute of limitations for present covenants in Georgia?
The statute of limitations for present covenants begins to run from the moment of delivery.
What is the common law rule regarding exoneration in Georgia?
Georgia follows the common law rule, applying a rebuttable presumption in favor of exoneration of mortgages and liens.
What does the Georgia anti-lapse statute apply to?
It applies to any beneficiary who predeceases the testator and leaves issue who survive the testator.
What types of documents can be recorded in Georgia?
Practically every kind of deed, mortgage, contract to convey, or other instrument affecting an interest in land can be recorded.
What is required for a deed to be recorded in Georgia?
A deed must be attested or acknowledged as provided by law, and must have at least one witness.
How is a deed recorded in Georgia?
A deed is recorded in the office of the clerk of the superior court of the county where the land is located.
What type of recording act does Georgia have?
Georgia has a race-notice statute, meaning a prior unrecorded deed loses priority over a subsequent recorded deed without notice.
What theory does Georgia follow regarding mortgages?
Georgia follows the lien theory for mortgages and the title theory for deeds to secure debt.
What foreclosure process is allowed in Georgia?
In Georgia, the mortgage may contain a power of nonjudicial sale.
What is required for a deficiency judgment after foreclosure in Georgia?
An action for a deficiency judgment is not permitted without the approval of the superior court judge.
Does Georgia recognize a statutory right to redemption after foreclosure?
Georgia does not recognize a statutory right to redemption.
What is an absolute deed in Georgia?
An absolute deed given for security purposes can be treated as an ‘equitable’ mortgage.
