Georgia Real Estate Exam Questions and Answers Graded A

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Georgia Real Estate Exam Questions and Answers Graded A personal property ✔✔are the items the seller can load into the van when moving after the sale chattels personal ✔✔refers to cars, boa... ts, furniture, clothes, stocks, money and tools chattels real ✔✔items that extend to owner an interest in real property; leases, mortgages, contracts to purchase and options deed ✔✔is how real property is transferred bill of sale ✔✔how personal property is transferred real estate ✔✔consists of land itself plus those things which are permanently attached to the land by man (buildings) or nature (trees) real property ✔✔it not only includes those things permanently attached but also the legal rights and interests that go along with ownership appurtenance ✔✔any right, interest, or improvement which automatically conveys with the ownership of the property run with the land ✔✔rights and responsibilities which automatically convey land ✔✔starts at the earth's center and passes through the surface and extends into space above the surface to an indefinite height tenements ✔✔are things that permanently attached to the land; physically or legally and are immovable by law fructus naturales ✔✔those grown naturally and requiring no annual cultivation; are considered to be real property fructus industriales ✔✔emblements; crops that are planted and harvested each year improvements ✔✔any product of human planning or labor that is affixed to the land with the intent of being permanent percolating water ✔✔underground water that is not confined to a specific waterway water table ✔✔the level at which percolating water is found riparian rights ✔✔concern those properties that border a river or stream and the owner has the right to use the water for such things as swimming, boating or fishing. rights are not exclusive because the rights of other owners whose properties border the same waterway must be respected correlative rights ✔✔allows the owner only a reasonable share of the water during times of short supply prior appropriation ✔✔the right to use is secured by a permit navigable waters ✔✔rivers and oceans used for commercial shipping and are identified on government survey maps littoral rights ✔✔properties which border large navigable lakes, oceans, or seas and typically involve the use and enjoyment of the shore mineral rights ✔✔land owner rights to such things as coal, oil, gas and ores right of lateral support ✔✔protects adjoining land from being damaged by efforts to extract minerals from below law of capture ✔✔refers to the process of removing oil and gas from land air rights ✔✔space above the land; may bee sold or leased separately from the land itself severance ✔✔the process by which an item of real property becomes personal property fixture ✔✔a property that was once personal becomes real property; such as built in appliances economic life ✔✔real estate investors are not generally interested in how long buildings will last, but in how long they will be profitable scarcity ✔✔the fact that an acre of land in a rural area cannot fulfill as many needs as an acre of urban land describes the economic characteristic legal description ✔✔used to identify the property in such a way that it cannot be mistaken for any other parcel of land and can be found at a later date in spite of changes that may occur spot survey ✔✔The survey a buyer receives at closing is called a __________. plat of survey ✔✔A _______________ is a map or drawing that shows the location and boundaries of a land parcel, and in some cases, how the land is subdivided into lots. metes and bound ✔✔method of legal d [Show More]

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