Free Arizona Real Estate License Property Interests and Ownership Questions and Answers

Question 1

A married couple acquires a vacation home in Flagstaff during their marriage.
They take title simply as "community property." If one spouse dies without a will (intestate), what happens to the deceased spouse's interest in the property?

Accepted Answer

It passes to the deceased spouse's legal heirs according to the laws of intestate succession.

Answer

It automatically passes in its entirety to the surviving spouse.

Answer

The property must be sold and the proceeds divided equally between the surviving spouse and the deceased spouse's estate.

Answer

It escheats to the state of Arizona because there was no will.

Question 2

Three individuals own a parcel of land in Pima County as joint tenants with right of survivorship. One of the joint tenants sells their interest to a new fourth owner. How does the new owner hold their interest?

Accepted Answer

As a tenant in common with the other two original owners, who remain joint tenants with each other.

Answer

As a joint tenant with the other two original owners.

Answer

In severalty, with the other two owners' interests remaining unchanged.

Answer

As a community property partner with the remaining owners.

Question 3

For 12 consecutive years, a rancher has openly and continuously driven their cattle across a specific, unfenced path on a neighbor's land to reach a watering hole. This was done without the neighbor's permission. The rancher may have acquired which of the following?

Accepted Answer

A prescriptive easement.

Answer

An easement by necessity.

Answer

Fee simple title through adverse possession.

Answer

An easement in gross.

Question 4

A tenant in Arizona is renting a condominium on a month-to-month basis. This type of leasehold, which has no definite end date and automatically renews, is known as a(n):

Accepted Answer

Periodic tenancy.

Answer

Estate for years.

Answer

Estate at sufferance.

Answer

Estate at will.

Question 5

The Arizona homestead exemption is designed to protect a homeowner's equity against forced sale from which type of creditor?

Accepted Answer

A creditor who won a judgment lien related to unsecured credit card debt.

Answer

The lender holding the original deed of trust on the property.

Answer

A contractor who filed a valid mechanic's lien for an unpaid pool installation.

Answer

The county for non-payment of real property taxes.

Question 6

Which of the following is the best example of a voluntary, specific lien on real property?

Accepted Answer

A deed of trust.

Answer

A real property tax lien.

Answer

A judgment lien.

Answer

A mechanic's lien.