Property Ownership
The metes and bounds legal description method uses:
ALot numbers from a recorded subdivision plat
BCompass directions, distances, and monuments to describe a property's boundaries✓ Correct
CTownship and section numbers
DStreet addresses and GIS coordinates
Explanation
Metes and bounds describes a parcel's boundaries using compass bearings (metes = measures) and distances from a starting point (Point of Beginning) back to that same point, using natural or artificial monuments.
People Also Study
Related Georgia Questions
- In the sales comparison approach to value, the appraiser makes adjustments to the comparable sales. If a comparable lacks a feature that the subject property has, the appraiser should:Property Valuation
- In the sales comparison approach to value, the appraiser makes adjustments to the comparable sales. If a comparable lacks a feature that the subject property has, the appraiser should:Property Valuation
- The income approach to value is LEAST appropriate for which property type?Property Valuation
- In the sales comparison approach, adjustments are made to the comparable properties because:Property Valuation
- A $400,000 mortgage at 6% annual interest, 30-year term, has a monthly payment factor of $5.996 per $1,000. What is the approximate monthly P&I payment?Real Estate Math
- The income capitalization approach to value assumes that value is:Property Valuation
- A property is appraised at $350,000 using the cost approach: land = $75,000, replacement cost new = $350,000, total depreciation = $75,000. What is the indicated value?Real Estate Math
- A house has 2,200 sq ft of living area. The cost to replace it is $90 per sq ft. The land value is $55,000. Total depreciation is estimated at 15%. What is the property value using the cost approach?Real Estate Math
Key Terms to Know
Comparable Sales (Comps)
Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Study This Topic
Practice More Georgia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Georgia Quiz →