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Exam (elaborations)

ARIZONA REAL ESTATE EXAM

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ARIZONA REAL ESTATE EXAM

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  • October 19, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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By: tutorsection1 • 4 days ago

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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

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