ARIZONA REAL ESTATE EXAM NEWEST ACTUAL EXAM
COMPLETE 300 QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+
Encumber, Access, Use, Transfer, Exclude are all __________ - ANSWER: Bundle of
Rights
Real Property that you can touch is __________ - ANSWER: Corporeal
Real Property you can NOT touch is __________ - ANSWER: Incorporeal
Chattel is __________ - ANSWER: Personal Property
Adjoining landowners that have the right to use the water is called __________ -
ANSWER: Littoral Rights
Enabling Legislation is __________ - ANSWER: Police Power
Taking private property for public us is __________ - ANSWER: Eminent Domain
Reversion of property to state if property owner dies without a will or heirs is
__________ - ANSWER: Escheat
Lessor is the __________ - ANSWER: Owner/Landlord
Lessee is the __________ - ANSWER: Renter/tenant
Landlord receives fix rent & pays all other costs is __________ - ANSWER: Gross
lease
Lessor will NOT pay maintenance, insurance, taxes this is called __________ -
ANSWER: Net Lease
Landlord receives a % of gross sales - ANSWER: Percentage Lease
Lease that allows the payments to adjust up or down is called __________ -
ANSWER: Index Lease
A lease that starts low and then increases at set intervals is called __________ -
ANSWER: Graduated Lease
A lease were one person owns the land and the other improvements is called
__________ - ANSWER: Ground Lease
Ownership in Estate is called __________ - ANSWER: Freehold Ownership
, The highest ownership without conditions is called __________ - ANSWER: Fee
Simple Absolute
Leasehold estate for a specific period of time is called __________ - ANSWER: Estate
for years
A leasehold that is month to month, week by week is called __________ - ANSWER:
Estate from period to period
A leasehold that you move in and stay as long as you want is called __________ -
ANSWER: Estate at will
A leasehold where the tenant refuses to leave is called __________ - ANSWER:
Estate at Sufferance
__________ Certificate verifies the terms of the lease - ANSWER: Estoppel Certificate
Types of tenancies that you own it by yourself is called __________ - ANSWER: Sole
& Seperate
Type of tenancies that 2 more more persons owns is called __________ - ANSWER:
Co-Ownership
Types of tenancies if a married couple and a single person buy a home is called
__________ - ANSWER: Tenancy In Common
Grantor has the right to convey (give) is called __________ - ANSWER: Covenant of
Seizin
Grantor promises to defend grantee against the claims of 3rd parties is called
__________ - ANSWER: Covenant of Quiet Enjoyment
Grantor Promises the property is free from encumbrances except those revealed is
called __________ - ANSWER: Covenant against encumbrances
A deed to remove a "clouds on title" (releases an interest) requires court action is
called __________ - ANSWER: Quit Claim Deed
A deed a spouse signs that they release any interest there might be in a property is
called __________ - ANSWER: Disclaimer Deed
A law suit pending is called __________ - ANSWER: Les Pendens
Forfeiture based on buyers equity is __________ - ANSWER: 0%-20% equity 30 days
20%-30% equity 60 days
30%-50% equity 120 days
50% and more 9 months
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller jrein8742. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.