Property Management
Under Georgia's Landlord-Tenant Act, a landlord must return a security deposit within how many days after the tenant vacates?
A14 days
B21 days
C30 days✓ Correct
D45 days
Explanation
Georgia law (O.C.
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Key Terms to Know
Escrow
A neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
State-Specific Concepts
License Law
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