Arizona Real Estate License FREE Arizona Real Estate License Property Interests and Ownership Questions and Answers 2

Question 1

Under Arizona law, which type of ownership automatically transfers a deceased owner's share to the surviving owner(s) without probate?

Accepted Answer

Joint tenancy with right of survivorship

Answer

Tenancy in common

Answer

Community property

Answer

Sole ownership

Question 2

A life estate measured by the life of someone other than the holder is called a:

Accepted Answer

Life estate pur autre vie

Answer

Remainder estate

Answer

Fee simple determinable

Answer

Estate for years

Question 3

Which of the following best describes community property in Arizona?

Accepted Answer

Property acquired by either spouse during marriage using marital funds

Answer

Property owned by a spouse before the marriage

Answer

Property inherited by one spouse during the marriage

Answer

Property gifted to one spouse by a third party

Question 4

An owner grants land to a church 'so long as it is used for religious purposes.' What type of estate has been created?

Accepted Answer

Fee simple determinable

Answer

Fee simple subject to condition subsequent

Answer

Fee simple absolute

Answer

Life estate

Question 5

Which statement is TRUE regarding a tenancy in common in Arizona?

Accepted Answer

Each co-tenant may hold an unequal share of ownership

Answer

All co-tenants must acquire title at the same time

Answer

A deceased co-tenant's share passes to the surviving co-tenants

Answer

Co-tenants must be married to each other

Question 6

What is a remainder interest in real property?

Accepted Answer

A future interest that becomes possessory after a life estate ends

Answer

The right to reclaim property after a condition is broken

Answer

An easement that runs with the land

Answer

A leasehold interest lasting more than one year