GA%20Book_flattened-compressed.pdf-65c341f2f588de48061b8eaf

It is the greatest interest one can have in real property, unqualified, of indefinite duration, freely transferable and inheritable.

To pay the expenses associated with operating the Georgia Real Estate Commission's office and enforcement of Georgia statutes.

They will have to pay an additional fee after filing a new application.

The company the licensee will be working for must pay an additional fee.

The licensee is entitled to reinstatement for up to two years, requiring payment of renewal fees, late fees, and a reinstatement fee.

The licensee must meet additional educational requirements for up to five years and pay the same fees.

The licensee must meet education requirements and pass the State exam again.

Yes, provided they have maintained their license in their home state.

Licensing fees must be paid to maintain inactive status.

By considering affordability and offering higher densities and small lot sizes when land is limited.

The broker can turn in their broker's license and apply for a salesperson's license without passing additional tests, subject to the same fees as an original applicant.

It is vital for ensuring that the needs of every city, district, and neighborhood are met.

Public transportation options like local shuttles, trains, and buses.

To account for historical significance, rare animals and plants, and the impact on future generations.

Deciding how development will start and progress while balancing various stakeholder needs.

Reducing building lot sizes or changing commercial-only land to mixed-use zones.

To ensure the health, well-being, and financial stability of everyone involved.

The maximum three-dimensional space on a zoning lot within which a structure can be built, determined by height, setback, and yard controls.

They may be able to renew their license for up to two years if they can demonstrate their personal property or place of business were negatively impacted.

The Commission can issue, suspend, or revoke real estate licenses and regulate the rules pertaining to their issuance.

Applicants agree that the Commission has the power to regulate all licensing matters as part of their initial application or renewal.

The Commission can hire or contract experts to assist in the examination of a broker's trust account, maintaining full supervisory authority over them.

Fees may be used to pay experts, but any remaining funds at the end of the year must be turned over to the State Treasurer.

License holders are expected to act in the interest of the public.

Applicants with prior felony convictions are generally denied a license.

Yes, applicants may be reviewed at the Commission's discretion after more than five years if they have fulfilled their debt from the conviction.

They must demonstrate competence, honesty, and trustworthiness.

10 years from the time of conviction, release from incarceration, or fulfillment of sentencing, whichever occurs last.

False statements, violation of fair housing law, or pending criminal charges.

The Commission may suspend their license within 60 days of the conviction.

Their license will be suspended or their application for an initial or renewal license will be denied until the issue is addressed.

Yes, they may have the opportunity to rebut through a hearing.

The ratio of total building floor area to the area of the zoning lot, controlling the size of buildings.

In the location where the Commission has established their primary place of business.

They may request the superior court of Georgia to review their case.

By multiplying the FAR control by the lot area of the zoning lot.

The portion of a zoning lot covered by a building when viewed from above.

In the county where the Commission does business.

The authorization to improve or develop a property in a manner not authorized by zoning.

Overseeing the activities of licensees in their offices and following local business operation rules.

They could put their own license at risk.

Written procedures covering advertising, contracts, renting or leasing, and offers on properties.

To provide written agreements confirming the affiliate's compensation for completed transactions.

Only a licensed broker may operate the office as the sole proprietor.

Any address changes of the operation.

A process must be provided for the license to be forwarded to the new firm or returned to the commission.

A written agreement with the qualifying broker outlining terms, compensation, and liability acceptance.

Escrow purposes, good faith deposits, security deposits, and association fees.

A federally-insured trust or escrow account.

Open a federally-insured trust or escrow account if they do not already maintain one.

Where the funds for a real estate transaction are being held, including account number or name.

If there is a concern about any activity in the account or when reviewing licensing requirements.

In a bank in Georgia.

Yes, provided the Commission is notified.

Only after the designated transaction has been completed.

They must be properly authorized.

Request a judge to issue an order to impound the account and appoint a receiver.

To provide funds for any person harmed in a real estate transaction who is not a licensee.

At least one million dollars.

$25,000.

From licensees at the time of obtaining a license, as set by the Commission.

A court must order a judgment and determine the validity of the claim.

Photos, print, broadcast, and Internet outlets, including magazines, newspapers, posters, flyers, billboards, business cards, videos, radio, signs, and television.

Misleading advertising that misrepresents real estate property.

Written permission from the owner or the owner's authorized agent.

Advertising that references a certain color, race, sex, familial status, handicap, religion, or national origin.

The name and telephone number of the licensee's brokerage on each web page, with limited exceptions.

Brokers must include the firm name and telephone number, which should be registered with the Commission.

No, licensees cannot advertise in a way that indicates the offer is from a private individual rather than a licensee.

The broker must directly supervise all advertising by licensees.

Required open areas along property lines that must be unobstructed from the lowest level to the sky, ensuring light and air between buildings.

The separation of a city or town into districts, regulating buildings and structures according to their use and construction.

A mapped area with similar use, bulk, and density regulations.

The location and boundaries of zoning districts within a municipality.

A statement outlining the type of use permitted under each zoning classification and specific compliance requirements.

Zoning ordinances are a set of laws and regulations that define how a particular property can be used.

To protect the health and safety of the population and regulate property use.

They shall have no access to a new license until they have repaid the amount in full, plus interest.

Four percent interest on any amounts which remain unpaid.

Up to $30 per person per year.

They must maintain a fidelity bond or fidelity insurance to protect the association from potential issues with trust funds.

The person seeking to recover compensation must be properly licensed in the state of Georgia.

The Georgia Commission has the authority to act if a violation occurs and determine the consequences.

Their license may be at risk, and they may face serious consequences determined by the Georgia Commission.

It allows them to follow due process during the hearing process.

Penalties can include suspension of licenses, refusal to issue or renew a license, sanctions, fines, and new education requirements.

Residential, commercial, and industrial or manufacturing.

With the letter 'R'.

With the letter 'C'.

Violations of the Fair Housing Act, misrepresentation of property values, failure to disclose dual broker relationships, and improper maintenance of trust accounts.

They must always act ethically in all transactions and have proper authorization to display for sale signs.

Coercion includes overstating property value or making promises based on potential future value.

Entering into commission or fee agreements with those who are not licensed in Georgia.

All contracts must be legal based on the laws of Georgia.

Contracts must clearly explain the date of expiration and have the proper signatures affixed.

Ensure all good faith deposits and other monies are properly accounted for and returned to the proper parties within 30 days of termination.

Any conflicts of interest.

Impose fines, require additional education, or suspend licenses if fines or educational requirements are not met.

The Commission reserves the right to review all prior sanctions and disciplinary actions when determining the severity of new actions.

The right to request a hearing.

Via verifiable mail.

Judicial review of the action in the superior court.

Any person applying for a license, any person who holds a license, facilities offering courses, and approved instructors.

Up to three years.

A subpoena.

Only the Commission and the Commissioner.

The names of any licensee, including schools, instructors, and real estate professionals who have been subject to suspension or revocation.

They shall be subject to a full review of their potential criminal history, including access to FBI records.

It is maintained in strict confidence and is not part of the public record.

Refer them to the Attorney General for further action when warranted.

They must be properly licensed.

Spouses of licensees, attorneys acting in an incidental manner, property or community association managers, and those not collecting a fee.

They will be deemed in violation of the rules of the real estate Commission and their actions will be seen as unlawful.

Cities and towns would likely have haphazard buildings without planning, leading to non-cohesive neighborhoods.

Through the local planning department and/or department of buildings.

Allowed uses on a property, minimum and maximum property size, density of development, and maximum building size.

The letter 'M'.

Manufacturing uses such as factories or warehouses.

They can be broken down into different densities, such as single family homes or large scale apartment buildings.

They show which parts of a municipality can include residential, commercial, and industrial uses.

It derives the zoning districts and permitted densities within each district.

A written document that describes what can be built on a property based on its zoning.

They can issue a cease and desist order and impose a fine of up to $1,000 per transaction.

Each day such a violation occurs is treated as a separate violation and is subject to judicial review.

The person will be guilty of a misdemeanor.

To list at least two forms of homeowners insurance.

An estate in real property with an undivided interest in common in a portion of real property and a separate interest in a unit.

By purchasing shares of stock in the corporation that owns the building.

A transportable structure designed to contain not more than two dwelling units, used with or without a foundation system.

A dwelling constructed through the on-site assembly of mass-produced component parts (modules).

A subdivision of real property into rights for recurrent, exclusive use of a unit for a specified period of time.

88%.

Ready-to-build house kits.

Precut lumber, window glass, doors, paint, nails, varnish, carved staircases, flooring, and even a hammer.

Zoning laws, lot restrictions, and complex tax codes.

The single-family home.

They indicate what uses (residential, commercial, industrial) can be built on that property.

They dictate the allowed building envelope for a structure on a property.

Between 60% and 70%.

A single-family home is not connected to other buildings and has space on all sides.

Duplexes, quads, and apartment buildings.

Any structure with occupied living space higher than 75 feet above the lowest level of fire department vehicle access.

A building where each unit is owned individually, with common areas jointly owned by all owners.

In a condominium, each unit is privately owned, while in a co-op, the building is owned by a corporation and residents buy shares for use of a unit.

Fees that all shareholders must pay for the maintenance of shared spaces.

Some tax benefits of home ownership, as they are considered renters.

A mixed-use area created by commercial land developers that includes individual homes, multi-family housing, retail space, and recreational facilities.

Detailed plans to the appropriate agencies.

Retail space on the ground floor and apartments on upper floors.

High walkability scores and access to food and entertainment.

Roughly 8%.

In rural or non-metro areas, which have three times as many mobile homes compared to metropolitan areas.

They are easy to move and typically cost less than other new home types.

Many mobile home owners do not own the land where their home is parked, leading to additional monthly rent costs.

Single- and two-story models, with a variety of lengths and widths.

They are never moved again.

The maximum three-dimensional space on a property within which a structure can be built.

Yard setbacks, maximum lot coverage, maximum permitted height, and floor area ratio.

Yard setbacks are required distances that the exterior wall of a building must be from the property line.

To allow enough light and air to reach a house and prevent neighborhoods from appearing crowded and dark.

Lot coverage is the portion of a property covered by a building when viewed from above.

As an actual number of square feet or as a percentage of the property's area.

Typically capped at 25' or 30'.

The maximum allowed 'buildable' square footage on a property.

By multiplying the FAR by the property's area to produce the maximum allowable floor area.

A minimum number of parking spaces and possibly a parking garage in the rear yard.

It means the property fully complies with the zoning resolution.

Modular homes are prefabricated homes built in movable sections called modules in a factory according to a buyer's specifications or a particular floor plan.

Professional builders can have the house ready for occupancy in about a week, barring extreme weather events.

Unlike mobile homes, modular homes are assembled on a permanent foundation, so moving is not usually an option.

The three main categories are Fee Simple contracts, Right-to-Use (RTU) arrangements, and Leasehold contracts.

A Fee Simple contract results in deeded interest, with a title in perpetuity.

The right to own land or an interest derived from land, with no fixed time period associated with the ownership.

A basic RTU arrangement gives rights to exclusive use that expire on a given date and revert to the actual owner, usually after ten to twenty years.

A Leasehold contract is deeded like a Fee Simple but has an expiration date, similar to the RTU, and may offer a first right to renew clause.

Most retirement communities have a minimum age requirement of 55 or older.

Services may include lawn care, housekeeping, laundry, and access to a handyman.

The 80-20 rule means that 80% of the properties are owned by people over 55, while the other 20% are owned or leased by younger families or singles.

They have the right to possess, control, enjoy, sell, transfer, mortgage, encumber, or bequeath the property.

To recommend specific properties that align with their needs for social engagement, security, and future medical services.

A private home that allows for future transition to assisted living if needed.

Rural areas have a higher percentage of ownership (approximately 75%) compared to urban areas (approximately 68%).

More mobile homes.

A well-equipped retirement community close to physicians, hospitals, and grocery stores.

The property must be alienable, devisable, and have no fixed duration.

It helps real estate professionals assist clients in finding homes that fit their needs and budget.

Monetary gain resulting from the increase in the market value of an investment, excluding additions of capital.

The amount by which the net sale proceeds exceed the adjusted cost basis at resale of a capital item.

A method of depreciation under which improvements are depreciated at a constant rate throughout the estimated useful life of the improvement.

The trade or exchange of one real property for another without the need to pay income taxes on the gain at the time of trade.

The rights to the area below the earth's surface, such as oil and mineral rights.

From the surface of the land downward to the earth's center and upward to infinity.

Chattel refers to goods or every species of property movable or immovable which are not real property, essentially personal property.

Emblements are the crops and other annual plantings considered to be personal property of the cultivator.

Fixtures are appurtenances attached to the land or improvements that usually cannot be removed without agreement, as they become real property.

Personal property is any property which is not real property, also known as movable property or chattel.

It refers to the property owner's right to transfer or sell the property to someone else.

They can deduct points and interest paid on mortgage, home improvement loans, and HELOC associated with repairs and renovation projects.

Long-term appreciation as home value grows.

44 percent.

28% of participants believe it is cheaper to rent than to own.

Their 401K savings.

Up to $50,000.

It means the owner has the right to create a will that transfers ownership of the property upon their death.

You may not be allowed to continue making deposits until the loan is satisfied, and if you quit or get fired, you have a two-month window to pay it back or face a 10 percent tax bill.

High interest rates can significantly increase monthly payments, making a mortgage less affordable.

3.5 percent.

Shortening the loan term can increase monthly payments but save money in total interest paid over the life of the loan.

You may need to provide a down payment closer to 10 percent to secure the loan.

Interest rate, length of the loan, and down payment requirements.

It is a great solution for people with a strong debt-to-income ratio who may not have a lot of cash for upfront costs.

Up to 100 percent.

No PMI or upfront mortgage insurance payments are required.

Capped at 4 percent.

Up to 97 percent financing.

Only $100.

50 percent of the appraised value.

36 months.

They should point clients toward fiscally responsible mortgage solutions.

Taking responsibility for maintenance issues like overflowing toilets and tree pruning to prevent damage.

It usually increases in value over time, providing a healthy return on investment.

To guide buyers toward wise investments and ensure they capture all benefits of home ownership.

Mortgage interest, discount points, loan origination fees, and private mortgage insurance (PMI).

It is calculated monthly on the remaining principal over the term of the mortgage.

Administrative fees charged by lenders for reviewing loan applications.

Typically equals 1% of the loan value.

One point is equal to one percent.

A buydown is used when buyers seek discounted rates for the first years of their mortgage.

They allow buyers to prepay interest in exchange for a reduced mortgage interest rate.

Each point will cost about 1% of the loan amount.

Discount points are tax deductible, but origination points are not.

PMI is protection for the lender if a buyer fails to make payments.

When the down payment is less than 20% on conventional loans.

PMI may be dropped after the balance falls below a predetermined amount.

It means that the rights of fee simple absolute ownership are inheritable and will pass to subsequent owners.

A mortgage lien.

To protect themselves in case the borrower defaults on the loan.

A net lease.

The type of business leasing the property or land and their intended use.

A lease where the landlord pays all costs of operating and maintaining the property and real property taxes.

The landlord pays for taxes, insurance, maintenance, and mortgage.

Gross Leases.

A lease where the tenant pays a fixed amount of rent plus the costs of operating the property.

The tenant pays monthly rent and costs such as taxes, insurance, maintenance, and mortgage.

They qualify as depreciation expenses and can be amortized over the life of the real property.

Homeowners can usually deduct mortgage interest paid, discount points, some real estate taxes, origination fees, and PMI associated with first and second mortgages, equity loans, and lines of credit.

Any real property that has sleeping, cooking, and bathroom facilities is considered a qualified home.

Yes, as long as the property is used solely for personal use and meets the IRS definition of a qualified home.

If ownership is shared, the deduction is divided among the owners based on their ownership percentage.

The 1098 Form details the total interest, discount points, and PMI paid in the previous year, which homeowners can use to determine their deductions.

A lease where the tenant pays for capital expenditures, mortgage, taxes, insurance, and maintenance in addition to monthly rent.

In office buildings.

A lease where the rental amount is a combination of a fixed amount plus a percentage of the tenant's gross sales.

Jeffry can only deduct his share of the total payments, which would be $400 if the total is$2000 divided among five owners.

It may result in an expensive building violation for the owner.

He must not lease any part of his home for purposes other than residential living, and the leased space must not be self-contained.

He can treat the rented space as part of his personal home for tax purposes and claim full tax benefits based on 1098 figures.

It allows tenants to pay less in rent upfront, giving them more time to become profitable.

The landlord benefits by making a percentage of the tenant's gross sales.

Retail tenants.

To protect both the property owner and the tenant, documenting the terms and obligations of both parties.

The physical address of the property to be leased, including the unit number if applicable.

The tenant is not responsible for rent for the days they do not have access.

The amount of rent, who it should be paid to, where payments should be delivered, and the due date each month.

The landlord is not obligated to accept the late rent and could consider the renter to be in default of the lease.

The amount and form of payment for the security deposit and where the landlord will keep the deposit.

Any convenience fee should be included in section 3(d).

The renter can terminate the lease after a specified time period if the property owner has not granted possession.

Deposit it into a separate escrow account.

A list of any damage existing on the lease start date.

The right to inspect the property to confirm all known damage has been documented.

A statement showing why part or all of the security deposit was retained.

Both should sign the move-out statement.

The notice must be in writing and delivered according to specific provisions.

A fee to change the locks, known as a 're-key' fee.

Whether or not pets will be allowed on the premises.

Renters and their guests may not smoke unless specifically authorized.

Tenants may not sublet the premises, including short-term rentals through services like AirBnB or VRBO.

Which utilities are included in the lease.

Arranging to connect and pay for utilities within three banking days of the lease start date.

To document the tenant's right to terminate the lease early if allowed by the landlord.

The notice period, percentage of remaining rent due, and any early termination fee.

Provisions under the Servicemembers' Civil Relief Act of 2003.

He is not allowed to lease the same space or different parts of his house to more than two renters at any time during the tax year.

IRS Publications 936, 17, 550, and 530.

Yes, real estate taxes are a tax deductible item.

Real estate tax rates vary widely by state, town, and even neighborhoods within cities.

Homeowners can contest the assessed value and participate in open discussions during the proposed assessment phase.

All tax assessments are based on Market Value and differ according to the benefiting entity.

The notice period the landlord must provide to the tenant for early lease termination and any compensation.

The tenant has not vacated the property at the end of the lease term.

The daily fee the tenant will owe if they are holding over.

A fee for preparing an amendment to the lease agreement.

Someone who visits for 14 consecutive days or fewer, or for 28 non-consecutive days or fewer, in a 12-month period.

Who is responsible for providing exterior maintenance and lawn care.

The landlord is generally responsible for termite and rodent control.

Use a licensed Georgia pest control remover and permanently remove affected items.

The first box in section 20 to notify the tenant of possible flooding or water intrusion.

Specific lead-based paint disclosures and requirements.

A copy of the Lead-Based Paint Pamphlet and must attach form F316, the Lead-Based Paint Exhibit.

It documents the amount of any fees the tenant will need to pay to stop the eviction process.

It is a fee the tenant must pay if they do not allow the landlord to access the property as required.

A fee for having an unauthorized pet on the premises.

It refers to real estate professionals picking a particular subdivision or section to generate future sales by getting to know the residents.

They should maintain contact with residents and have the knowledge and resources to serve the community.

The profit or loss realized based on the difference between the sale price and the cost of acquiring the asset.

Short-term capital gains and long-term capital gains.

Real estate investments sold within one year have higher tax rates than those held longer than twelve months.

The maximum rate currently is 23.8% for top earners.

A single taxpayer earning more than $200,000 per year or a married couple filing jointly earning more than$250,000 per year.

The cost is bumped up to fair market value, eliminating capital gains tax on prior appreciation.

A gradual reduction in the value of property that allows recovery of part of the cost through tax adjustments.

The straight-line method, dividing the value of the house by 27.5 for annual deductions.

No, only structures and improvements can be depreciated.

39 or 40 years, depending on the depreciation system used.

By dividing the difference between the salvage value and the purchase price by either 39 or 40.

Building equity and exploiting appreciation as the market changes.

Based on market statistics and comparisons (comps).

Adding upgrades and amenity packages to boost revenue potential and gradually increasing base rents.

Over renovating in a modest neighborhood won't necessarily bring higher returns unless other homeowners follow suit.

Buying low.

Approximately 22 years.

More than 45%.

By doubling up on their payments or paying a little extra each month designated for reducing the principal.

A tax-deferred exchange of like-kind properties that allows property owners to trade without paying capital gains taxes.

Only business and investment properties can be exchanged; private residences cannot be traded.

A fee must be paid if smoking is prohibited and occurs on the premises.

A fee for unauthorized disconnection of utilities.

A variance is the authorization to improve or develop a property in a manner not originally authorized by zoning.

The exchange must involve like-kind properties, and the net market value and equity of the new property must be equal to or greater than the property sold.

No, you cannot exchange a rental property for non-real estate items like a moving van or construction crane.

Trading a four-unit apartment for a single-family rental, provided the values and equity requirements are met.

Finding another business property owner with a similarly valued property who is looking for a quick swap is very difficult.

Area variances and use variances.

To act as a middleman or hold assets in escrow until a suitable swap can be found.

They may want to trade properties, such as exchanging an assisted living property for a high-rise catering to college students.

To invest in real estate in other towns or states.

45 days to identify up to three potential properties.

The combined total must not exceed 200% of the real estate being sold.

All transactions must be completed within six months, or 180 calendar days, of the first closing.

The property owner can file for a tax extension.

To help clients make wise decisions regarding tax and investment aspects of home ownership.

The amount of decrease in value of a property that is allowed for tax purposes.

The Straight Line method.

27.5 years.

$7,272.73.

39 years.

By dividing the value of the building by 39.

$39,743.59.

It provides protection against risks such as fire, theft, and some weather damage.

Most Americans do not have the funds or credit to replace their home and belongings if destroyed by fire or other disasters.

Coverage for buildings, contents, and liability.

A limited perils policy that does not provide personal property, medical, or liability coverage.

Damage from smoke, fire, riots, severe weather, explosions, aircraft, and volcanoes.

The landlord can indicate if the lease automatically renews for a set period or becomes a month-to-month lease.

Mortgage companies typically require a minimum amount of insurance to protect their investment in the property.

Protecting assets, including the dwelling and contents, is critical unless financial assets are available for replacement after a loss.

It covers the ten listed perils plus glass breakage.

Because it provides too narrow coverage and many agents don't recommend it.

It covers all 11 perils under HO-1 plus six more perils.

It covers everything unless specifically excluded.

HO-3 coverage is the minimum plan required to issue a loan.

It covers content perils typically seen in HO-2 and HO-3 policies.

It covers everything that isn't listed as an exclusion and allows for endorsements to expand coverage.

It protects condo owners against content loss and covers structural features like walls and ceilings.

It covers manufactured homes or mobile homes.

It is designed for homeowners living in older residences, especially if replacing the property would be a hardship.

It covers specific items listed in the policy and pays the actual cash value minus depreciation.

No, water damage is never covered under an HO-8 policy, but a rider can be added for different kinds of water damage.

It covers losses initiated from a real flood, defined as excess water covering at least two acres or two properties.

Homeowner policies may be value-based, while flood insurance reimbursements are based on the actual cost to repair or replace.

Content protection must be purchased separately as contents and liability are not covered by standard flood insurance policies.

FEMA oversees and manages the National Flood Insurance Program (NFIP).

It is calculated by deducting reasonable depreciation from the replacement cost.

Homeowners should check exclusions and limitations carefully before buying or recommending an insurance policy.

$250,000.

Around $700 a year.

A single-family home occupied at least 80% of the time by the homeowner.

Refrigerators.

To understand what is covered and to read the fine print.

$100,000.

Fair Access to Insurance Requirements (FAIR) program.

That they are adequately insured when many are underinsured.

Many items are not covered under personal property or building property.

The average residential claim for flood damage was more than $42,000.

It allows the owner to build a structure that does not fully comply with the dimensional requirements of the zoning resolution.

It allows the owner to continue using a property in a manner that no longer complies with the most recent zoning resolution.

You should verify with local zoning authorities if the use variance will stay in effect after the property is sold.

It helps in understanding why a neighborhood is built the way it is and may reveal opportunities that others do not see.

The rights-of-way and easements necessary to provide these services via streets, alleys, and other types of access.

Ordering a survey of the land.

Standards established by the area comprehensive plan.

To provide a visual layout of the proposed subdivision and individual tracts within it.

Existing local utilities, water, and sewage systems.

Land refers to the earth's surface, real estate includes land and anything permanently attached to it, while real property encompasses the rights associated with ownership of real estate.

Fixtures are items that are permanently attached to the property, such as built-in appliances or light fixtures.

Scarcity and modification are two economic characteristics of real estate.

Immobility and indestructibility are two physical characteristics of real estate.

The rights to the reasonable use of the air space above the surface of the land.

They dictate the type of materials used to build streets and roads, as well as their width and placement.

All of the legal rights incident to ownership of property including rights of use, possession, encumbering, and disposition.

The materials of the earth, including soil, rock, or other substances, and includes free or unoccupied space for an indefinite distance upwards and downwards.

A landowner's right to receive a portion of the profits of any minerals that are extracted from the land.

Real estate is land plus anything permanently attached to it, while real property includes land, things affixed to land, appurtenances, plus the bundle of rights.

Anticipated traffic patterns and the impact on arterial roadways.

Landscaping must not interfere with line-of-sight on roadways and must provide clear views at entrances.

Owning land implies ownership from the air above to the center of the Earth, including the rights to the surface and subsurface.

Traffic signs, guard posts, street name signs, reflectors, and speed bumps.

Guidelines for size, shape, color, height, and letter case.

They must not block drainage systems and must be user-friendly and safe.

Advice about culvert placement, size, and type to ensure safety and usability.

Mailbox placement and design may be governed by subdivision regulations and state transportation standards.

Restrictions created by developers that dictate how properties can be used and may prohibit certain commercial activities.

They establish rules and regulations for the community created by developers.

Easements provide access or restrict improvements to preserve green spaces and wildlife habitats.

They assess if the subdivision supports the economic, social, and physical needs of current and future residents.

They study population dynamics to predict housing needs based on births, deaths, migration, and aging.

They must meet Federal Housing Authority (FHA) guidelines and regulations if FHA financing is anticipated.

Lot size, building footprint, minimum parking space per capita, and building height requirements.

About five to eight months.

It involves extensive planning and approval processes that can take years, especially in some municipalities.

They ensure that future owners, surrounding neighborhoods, and local municipalities benefit from the expansion.

A systematic regulation of construction of buildings within a municipality established by ordinance or law.

A document issued by a local government agency after satisfactory inspection of a structure authorizing that the structure can be occupied.

To protect the health, safety, and welfare of the general public.

By adopting a State code as the foundation for local building control and modifying regulations through amendments.

The huge conflagrations in San Francisco and Baltimore, and the 1906 San Francisco earthquake.

Financial motives to protect property rather than people.

The implementation of sustainability guidelines to protect the environment and reduce energy consumption.

Establishing building construction rules and guidelines.

Wood, concrete, or steel frame.

Paint, types of pipe, and electric wiring.

Multiple agencies contribute laws regarding the removal, disposal, and use of lead-based paint.

Wood frame construction.

Based on floor area and intended use, with specific formulas for calculating occupancy rates.

15 square feet.

66 patrons.

142 customers.

Limited to two stories and smaller floor area than concrete or steel structures.

ICC 400-2012.

Metrics for sustainability, fire resistance, energy conservation, and wall protection.

Floors with more occupants require more exits than single family homes and small business locations.

At least 0.3 inches of doorway per person.

20 inches by 24 inches (height X width).

At least 8% of the total square footage of the room.

The Winecoff Hotel fire and the La Salle Hotel fire, which resulted in significant loss of life.

At least 4% of the square footage of the room served.

The type of construction and use of the building.

The maximum travel distance is calculated from the most remote point on a floor to a fire exit or stair.

Minimum fire protection standards.

Applying spray-on fire-proofing material that provides at least a 2-hour protection window.

A minimum protection wall, such as a 2-hour separation or enhanced fire wall.

Gypsum separation walls constructed with steel studs and tracks.

Accessibility for disabled persons.

32 inches, with many municipalities recommending 36 inches.

1:12 slope ratio, requiring one linear foot of ramp for every inch of rise.

36 inches, with some exceptions allowed.

5' X 5', with California code requiring a six foot minimum in the direction of travel.

Between 34 inches and 39 inches, installed on both sides of the ramp.

Designers must consider wheelchair-bound persons and people who use a blind-cane or walker.

Objects must extend no more than 4 inches into a circulation path, except for handicap rails which may extend up to 4 1/2 inches.

A document certifying that a building is safe for habitation or commercial use after passing required inspections.

Plumbing inspection, fire marshal review, electrical inspection, and possibly a health department certificate and ADA compliance survey.

The properties in that zone become much more valuable since you can now build 20% more square footage.

To revitalize a particular part of the town or city.

Historically industrial areas, such as abandoned warehouses and factories.

The 'path of progress' in the market.

They can be transformed into trendy apartments and office spaces.

The outer limits within which a building must be constructed according to zoning regulations.

The highest point to which a building can be constructed as per zoning regulations.

Regulations that dictate the space that must be maintained between the building and the property boundaries in the front and back.

Parking spaces are designated areas that must be included within the building envelope as per zoning regulations.

The size of buildings.

The ratio of the total building floor area to the area of the zoning lot.

The maximum floor area allowed in a building.

The control of the division of a tract of land into individual lots by requiring development according to specific standards and procedures adopted by local ordinances.

A written diagram called a subdivision plat that details the land division and proposed property improvements.

To ensure development follows guidelines that protect and promote the general welfare, safety, and health of a community and its residents.

Building codes affect land and building investments, which is essential for real estate agents to understand when working with developers, builders, and homeowners.

Geographic location, community culture, global initiatives, tragic events, innovation, and activism can all trigger amendments to regional codes.

It governs the construction, alteration, repair, use, and occupancy of every public and private building and structure.

Standards for elevating homes to protect against tidal surges and beach erosion.

Features that protect against wind-borne debris from high-velocity hurricanes.

In Israel, a person usually only owns the right to build on the surface of the land, while the government owns the land itself and all subsurface and air rights.

Ownership includes subsurface rights, including any minerals, oil, or dinosaur bones found underground.

Air rights allow the owner to build as high as they want, as long as it doesn't conflict with local zoning laws.

Real estate means land plus man-made improvements, such as houses, buildings, or fences.

Fixtures or appurtenances are things that are permanently installed on the land, included when real estate is bought and sold.

Mobile homes are considered movable property or chattel and are not included with real estate ownership unless specially purchased.

The 'bundle of rights' refers to the rights that come with real property ownership, with each right represented as a stick in the bundle.

If subsurface rights have been sold to another party, they do not pass to the new owner of the real estate.

You can only convey that which you already have.

The right of possession means that when you buy real estate, it is exclusively yours, and no one else can possess it unless you share that right.

Joint tenancy is when more than one person can possess real property together.

The Fifth Amendment protects the right of possession by requiring due process before property can be taken.

The government can violate the right of possession through criminal acts, civil judgments, or condemnation cases for public good.

Foreclosure is the violation of the right of possession when real estate is pledged as collateral and the owner fails to make payments.

The right of quiet enjoyment means that no one can disturb you on your real estate, and you can sue for damages if this right is violated.

No, most courts do not recognize a right to a pretty view as part of the right of quiet enjoyment.

The lawsuit was about whether the second tower violated the first tower's right of quiet enjoyment by blocking the view, but the outcome is not specified in the text.

The final decision was that no one has a right to an unobstructed view, and no one is entitled to damages.

The right to dispose.

Sell all or part of their property, including rights like leasehold interest or easements.

A property ownership that lasts until the owner dies, at which point it reverts to the original owner.

The property will pass to the owner's heirs according to state law.

It is the sale of a right to use a portion of the land, which may limit the owner's use of that land.

By selling them for mineral mining or oil drilling, often in exchange for a share of the profits.

The right to hunt game on the land, which can be sold to multiple people subject to local laws.

To have a lien placed against the property for payment of a debt, using the property as collateral.

All liens are usually paid off before the property is conveyed to a new owner.

The right to possess, enjoy, and dispose of the land, including using it for various activities like farming or building.

It refers to a case where a homeowner complains about a nuisance from a pig farm, but the case is dismissed because the homeowner came to the nuisance.

A buyer is expected to look at their surroundings before purchasing a property.

Local zoning laws can restrict the use of land, such as prohibiting the construction of large commercial buildings in residential areas.

They are rules that limit how property can be used, often found in planned communities or homeowners associations.

The homeowners association can force the owner to dismantle unauthorized structures and pay fines and attorney's fees.

To avoid misunderstandings about their rights and limitations regarding the use of their property.

Land is defined as the materials of the earth, including soil, rock, and free or unoccupied space for an indefinite distance upwards and downwards.

Raw land is land in its natural state, with no man-made improvements such as cleaning, clearing, digging, or grading.

Real estate is defined as land plus anything permanently attached to it, including improvements.

Improvements include houses, garages, and fences.

Real property is defined as land, things affixed to land, appurtenances, plus the bundle of rights.

The bundle of rights includes the right of possession, right to dispose, right to use, right to encumber, and right of quiet enjoyment.

All of the legal rights associated with the ownership of property.

Each stick represents a different legal right associated with property ownership.

The owner exclusively owns the property and can share this right with others.

The owner has the right to sell or transfer all or part of the property.

The owner can use the property in any legal manner.

The owner may place a lien on the property, such as taking out a mortgage.

The owner can possess and use the property in peace, without outside disturbances.

Air Rights, Surface Rights, and Sub-Surface Rights.

Use the airspace above the surface of the land.

The rights to the surface, exterior or upper boundary of a parcel of land, including access to water and other substances.

A trade fixture is an article of personal property annexed by a business tenant to real property, necessary for carrying on a trade and removable by the tenant.

Real estate includes raw land plus permanent structures on the land, such as houses, fences, barns, and office towers.

The distinction matters greatly in real estate transactions as it determines what will be bought and sold besides the land itself.

The land aspect includes the ground, whatever grows on it, and whatever is underneath it, such as mineral deposits, coal, or oil.

Appurtenances refer to fixtures or things attached to the land or improvements made to the land that generally cannot be removed without significant damage.

Buildings, plumbing, wiring, built-in cabinets, wells, underground storage tanks, sewer systems, and mines.

The mnemonic device 'Maria', which stands for Method, Adaptability, Relationship, Intention, and Agreement.

Method of attachment.

They are built into the house and attached to the local sewer line and electrical systems, making them integral to the structure.

Adaptability, which refers to whether an item is custom built for its space and if it can be removed and adapted to a different space.

Because it can be easily removed and adapted to a new space without significant damage.

Items that cannot be easily removed or adapted to a different space are more likely to be considered fixtures.

Central HVAC units are likely considered fixtures due to their adaptation to the space, while window units are not.

Determining whether they are fixtures or movable property, as some can be easily removed while others cannot.

It refers to the courts generally favoring the buyer's opinion in disputes about whether an item is a fixture or personal property.

The courts consider whether the item was presented as part of the house and if it looks built-in.

If the seller intended for the item to be permanent, it is likely considered a fixture.

The written contract between the parties.

It can lead to disputes and potentially cost clients thousands in court.

Personal property is goods that are movable or immovable but are not real property.

Furniture, such as beds, couches, and electronics.

If it is not built into the wall, it is considered personal property.

Real property includes the land and anything permanently attached to it, while personal property includes movable items like furniture and appliances.

Homeowners should specify in the advertisement and contract exactly what will stay with the property after the sale.

Personal property remains the property of the prior owner and is not included in the foreclosure of real property.

A UCC-1 statement is used to record liens on personal property, typically when the item is bought with lender financing.

In residential property, fixtures are expected to remain with the house, while in commercial property, fixtures are usually removed unless specified otherwise in the contract.

Trade fixtures are personal property specific to a business and are typically removed when a building is sold or a lease term is completed.

Abandoned personal property may be disposed of by the bank after a certain period of time.

Trade fixtures can include display counters, manufacturing equipment, computers, registers, and business signage.

Trade fixtures often have a lien on them.

It may be considered a trade fixture or part of the permanent structure, depending on the agreement.

To account for all existing fixtures and improvements made to the building.

Emblements are crops, seasonal and annual plantings, considered personal property.

Crops can be pledged as collateral separate from the land itself.

The history of farming.

Barns, chicken coops, smoke houses, equipment sheds, and grain silos.

Movable property includes tractors and threshers, while fixtures are typically attached structures.

A system where a tenant farmer rents land from the owner to cultivate crops.

The tenant cultivator usually owns the crops, but the landlord may have a lien on them.

Disagreements about whether the crops belong to the landlord or the tenant.

The tenant may give some of the crops to the landowner as part of the rent payment.

A business where investors buy land and sell rights to naturally-growing timber, like pine trees.

Harvesting is done by professional lumber companies who pay the landlord for the timber.

Pine and bamboo forests.

Items attached to the land or improvements that usually cannot be removed without an agreement between the parties.

Fixtures are considered real property.

It helps determine if an item is a fixture.

If an item is attached using permanent methods like bolts or screws, it is considered a fixture.

Items custom built to fit in a particular room are likely considered fixtures.

Courts typically favor the buyer over the seller and the tenant over the landlord in disputes about fixtures.

It refers to the seller's intention when installing the item; if intended to be permanent, it is a fixture.

It clarifies which items are included in the sale and should be stated in writing to avoid misunderstandings.

Everything that is not real estate.

Chattel.

That which is movable is considered personal property.

Items installed by a business or commercial tenant that are removable upon termination of the tenancy.

They are considered personal property of the tenant.

Crops and other annual plantings grown on a property, considered personal property of the cultivator.

Real estate is land with defined boundaries and things upon it.

It involves a bundle of rights including use, enjoyment, sale, division, and pledging as collateral.

Economics is the study of scarcity.

There is a limited amount of land for the population, and once owned, less land is available.

Location greatly influences the value of real estate, with sought-after places having less available real estate, thus increasing prices.

Because there is limited space on the island and high demand due to its status as a center for commerce, entertainment, and jobs.

Fewer people, fewer jobs, and most jobs being low-paying contribute to the low real estate prices in this area.

Real estate in central Long Island suburbs is valued higher due to its short commute to Manhattan, despite being cheaper than Manhattan itself.

The Hamptons has expensive real estate due to its attractive location, wealthy residents, and proximity to luxury amenities, despite being a two-hour commute from NYC.

Coastal land near beaches tends to be more expensive due to high demand for ocean views and limited availability compared to inland locations.

Land near canyons, swamps, steep mountains, deserts, or tundra tends to be less valuable due to difficulties in building and accessibility.

Improvements like houses, pools, fences, and utilities significantly increase the value of real estate compared to raw land.

Land is not liquid and cannot be easily exchanged for anything other than cash, making it a long-term investment.

Real estate is hard to steal because it is immovable and protected by laws regarding ownership and adverse possession.

Land is immobile and its boundaries are established in the deed, making it unique compared to personal property.

Ownership rights remain unchanged even if structures are destroyed.

The land itself remains the same regardless of any destruction to structures or fixtures on it.

Real estate is unique and indestructible, while movable property can be destroyed and replaced.

Land remains within its boundaries and cannot be consumed or destroyed like other commodities.

Land is scarce and cannot be replicated, making each parcel valuable and unique.

The Supreme Court ruled in favor of the family that received the deed from the United States government, establishing the Law of Conquest.

The quality and design of structures can significantly increase the property's value.

Raw land has value due to the potential for building a house.

A large mansion increases the value significantly due to its premium features and desirability.

Unique design by a known artist or architecturally significant features can increase a home's value.

If the home is an eyesore or has awkward design making it difficult to live in, it can decrease the value.

The home sat on the market for a long time and had to be reduced in price because buyers did not want the expensive-to-maintain indoor pool.

Iconic structures, like the Empire State Building, significantly increase the value of the land they occupy.

Licensing luxury brand names to evoke an image of luxury and increase property value.

To guide the development and growth of the municipality.

Setback requirements and land use designations.

Structural integrity standards and fire safety regulations.

Home ownership and having a private piece of land.

To protect and serve the citizens.

They thought they had powerful control, but the government retained the right to limit use through regulations.

Because local, state, and federal agencies own, lease, and manage land and buildings, creating opportunities for private and public transactions.

Public schools, community centers, libraries, and law enforcement centers.

City parks, streets, roadways, public boat ramps, and recreational places.

County courthouses.

Two-hundred thirty-five.

To list at least three professionals associated with the real estate industry.

To list at least three types of property.

A person or organization acting as an agent for others in negotiating the purchase and sale of real property for a fee.

An individual who is licensed to negotiate and arrange real estate sales; works for a real estate broker.

The Homestead Act of 1862.

Residential, commercial, industrial property, and land.

Completion of approved real estate courses and passing an exam in the state where they work.

Facilities for emergency response teams, maintenance and storage for road equipment, and office complexes for state affairs.

National parks and military installations.

1. Serving the public interest, 2. Advancing urban renewal efforts, 3. Developing public housing communities, 4. Conservation purposes.

Only those who belong to the National Association of REALTORS® (NAR) can use the title of REALTOR® and are pledged to Standards of Practice and a Code of Ethics.

A real estate broker can establish their own business and manage a team of real estate agents.

Experience as an agent, a broker's license, and additional education depending on the state's requirements.

They find properties, show them, negotiate prices and terms, and guide buyers through the purchasing process.

To revitalize areas of blight or significant decline and improve economic potential and tax revenues.

Roughly one-third.

They work with sellers to list and market their property, negotiate prices and terms, and guide sellers through the selling process.