Az real estate - Study guides, Class notes & Summaries

When is the acceleration clause used in an agreement for sale - Answer The seller may enforse the clause by foreclosing like a mortgage When a property tax lien is sold at auction, what is the Statutory period of redemption before a foreclosure can occur? - Answer 3 yrs What will not terminate a homestead exemption? - Answer Buying another property Which of the following actions would not transfer title to real property ? - Answer New city zoning ordinance

Lender's Policy - Answer A title insurance policy issued for the benefit of a lender as well as any future holder of the loan Generally, a lender's policy, unlike an O's policy, cover's mechanic's liens and encroachments Owner's policy - Answer A type of title insurance issued in the name of the property O. Coverage runs from the time of the purchase for as long a s the policyholder owns the property

Broker Test - AZ REAL ESTATE/ Exam Review Questions and answers/ What is the document prepared by an attorney that states the attorney's opinion of the status of the title? A. Abstract of Title B. Certification of title C. Opinion of Title D. Title Report - -Certificate of Title A preliminary title report would tell you all of the following except: Tax liens Easements Judgments requiring resolution Zoning - -zoning The word "tenancy" describes: - -a mode of holding Sue decides t...

AZ Real Estate PASSED Exam Questions and CORRECT Answers Which Az tax rate is applied to owner occupied residential property - Correct ANSWER- 10% A husband and wife home community property and the husband dies, he receives the husbands half? - Correct ANSWER- Heirs Of the utilities required for joint tenancy which is necessary for a tenancy in common? - Correct ANSWER- Possession What is the smallest unit of measurement? - Correct ANSWER- Lot and block

AZ Real Estate Latest Exam [100% PASS] /verified/ Accession *Ans* Acquiring property when trade fixtures are not removed on or before the last day the property is rented. They become real property of the landlord. Fixture *Ans* An article/item that was once personal property but had been attached to land or a structure so it is now real property. Tests of a fixture *Ans* 1. Agreement 2. Intention (most important) 3. Attachment 4. Adaptation 5. Relationship 6. Cost (not a factor) ...

AZ Real Estate UPDATED Exam Questions and CORRECT Answers Accession - Correct ANSWER- Acquiring property when trade fixtures are not removed on or before the last day the property is rented. They become real property of the landlord. Fixture - Correct ANSWER- An article/item that was once personal property but had been attached to land or a structure so it is now real property. Tests of a fixture - Correct ANSWER- 1. Agreement 2. Intention (most important) 3. Attachment 4. Adaptatio...

What is not a specific lien? judgment Lien What is not a specific lien? judgment Lien What is not an encumbrance on real property? homestead right What is not an encumbrance on real property? homestead right the physical characteristics of land include: indestructibility the physical characteristics of land include: indestructibility what restrictive covenants is most likely to be enforceable? prohibits use for anything other than single-family dwelling. what restrictive cov...

When would a broker not be in violation if one of his agents violated the commissioner's rules? Notify the commissioner immediately How often is the assessed valuation of real estate adjusted by the county assessor? Annually A married couple in Arizona wants to purchase a home with only the wife being the sole owner. What must the husband sign for this to be accomplished? Disclaimer deed IF the deed to the conveyance of a property is not recorded, then the deed is? Valid The broker ...

AZ Real Estate Exam Final Complete Questions And Answers

What is the form of co-ownership in which two or more persons each have an undivided interest in the property but no right of survivorship? Tenancy in Common A type of ownership that is considered a long-term lease is best described as: Cooperative Building codes are primarily enforced by: the issuance of permits An interest in and possession of any real property is called An estate Roberta wishes to build her garage 2 feet from her side lot line. City code calls for all side setback...