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

Joint tenancy with right of survivorship passes the deceased tenant's interest directly to the surviving tenant(s), bypassing probate.

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

A life estate pur autre vie is measured by the life of a third party rather than the life of the estate holder.

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

Arizona is a community property state where assets acquired during the marriage with marital earnings are owned equally by both spouses.

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

The phrase 'so long as' creates a fee simple determinable, which automatically reverts to the grantor if the condition is violated.

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

Tenants in common may hold unequal fractional interests and are not required to acquire title simultaneously.

Arizona Real Estate License Practice Test