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111 Cards in this Set

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  • Back
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The sale of personal property would include a
Bill of sale.
CH 1 Session A-1

Property Rights Private and Governmental
What governmental right requires compensation to private property owners?
Eminent Domain.
CH 1 Session A-1

Property Rights Private and Governmental
If property is obtained by the state after a person dies, this is called?
Escheat.
CH 1 Session A-1

Property Rights Private and Governmental
Transfer of real property requires a?
Deed.
CH 1 Session A-1

Property Rights Private and Governmental
Which of the following would be an economic characteristic of real property?
Frozen Asset.
CH 1 Session A-1

Property Rights Private and Governmental
Which of the following listed below would be considered Personal property?
Promissory note.
CH 1 Session A-1

Property Rights Private and Governmental
Which of the following is not in the bundle of rights?
Refuse to sell under Eminent Domain.
CH 1 Session A-1

Property Rights Private and Governmental
All of the following are true regarding discount points except?
The reduce the Lenders yeild
CH 1 Session A-1

Property Rights Private and Governmental
Which of the following would be a fixture?
A storage shed attached to a slab
CH 1 Session A-1

Property Rights Private and Governmental
If a homeowner association has additional expenses how would they be handled?
Each property owner will pay a pro rata share.
CH 1 Session A-1

Property Rights Private and Governmental
An owner sells a property on which a farmer lives and works as a tenant. When the property is sold, who gets the crops?
The farmer
CH 1 Session A-1

Property Rights Private and Governmental
The tenant's right to harvest crops after a lease expires is called?
Emblements.
CH 1 Session A-1

Property Rights Private and Governmental
All of the following relate to the legal test of a fixture except?
Cost.
CH 1 Session A-1

Property Rights Private and Governmental
A Leasee puts in a bookcase for commercial use; at the end of the lease the book case is removed. The bookcase would be considered?
Trade Fixture
CH 1 Session A-1

Property Rights Private and Governmental
Which of the following is personal property?
Lease
CH 1 Session A-1

Property Rights Private and Governmental
Ad Valorem property taxes are based on the following listed below?
Assessed Value
CH 1 Session A-1

Property Rights Private and Governmental
Rank the order of liens highest to lowest. Property taxes,current year: Special assesments: IRS lien February of the currentyear:Mortagage lien October of the previous year?
Property taxes, assessments mortgage lien, IRS.
CH 1 Session A-1

Property Rights Private and Governmental
Counters, fixtures and display cases are conveyed by?
Bill of sale.
CH 1 Session A-1

Property Rights Private and Governmental
A party owns a parcel of real estate with mineral rights, who owns the mineral rights?
The property owner
CH 1 Session A-1

Property Rights Private and Governmental
Of the following listed below what would not be Appurtenant to thereal property?
Trade Fixtures.
CH 1 Session A-1

Property Rights Private and Governmental
When real property is conveyed, all of the following would be appurtenant except?
Licenses.
CH 1 Session A-1

Property Rights Private and Governmental
Which of the following would not be a use of police power?
Condemnation of a property.
CH 1 Session A-1

Property Rights Private and Governmental
Which of the following will terminate a purchase contract?
Eminent domain
CH 1 Session A-1

Property Rights Private and Governmental
Wetlands would come under the following controls?
Police power.
CH 1 Session A-1

Property Rights Private and Governmental
The tenant installs a vent hood in a building,the vent hood would be considered
Trade fixture
CH 1 Session A-1

Property Rights Private and Governmental
All of the following would be considered appurtenant in a real estate transaction EXCEPT?
Annual crops
CH 1 Session A-1

Property Rights Private and Governmental
Rent control would least likely benefit the?
Property Owner.
CH 1 Session A-1

Property Rights Private and Governmental
When a buyer buys a parcel of land which of the following is true regarding the mineral rights?
Mineral rights will transfer with the buyer.
CH 1 Session A-1

Property Rights Private and Governmental
Discount points are set by?
Market conditions
CH 1 Session A-1

Property Rights Private and Governmental
A person dies with no will and no heirs. Which of the following is true?
Property will escheat to the state.
CH 1 Session A-1

Property Rights Private and Governmental
Zoning set backlines, parking restrictions, building codes and environmental law would all be examples of?
Police power.
CH 1 Session A-1

Property Rights Private and Governmental
Homeowners Association fees are paid?
Pro- rata- share.
CH 1 Session A-1

Property Rights Private and Governmental
The physcial characteristics of real estate would include all of the following items except?
Scarcity.
CH 1 Session A-1

Property Rights Private and Governmental
When the government takes private property for public use this right is called?
Eminent Domain.
CH 1 Session A-1

Property Rights Private and Governmental
When a person has a right to use the water adjacent to his land, this is refrred to as?
Riparian
CH 1 Session A-1

Property Rights Private and Governmental
Under certain conditions a utility may acquire an easement by?
Eminent Domain
CH 1 Session A-1

Property Rights Private and Governmental
What is true regarding zoning?
Limits the use of land.
CH 1 Session A-1

Property Rights Private and Governmental
The property owner erected a block wall on the property. The block wall became real property by which of the following?
Annexation
CH 1 Session A-1

Property Rights Private and Governmental
Water Table is defined as?
The level at which water will be located.
CH 1 Session A-1

Property Rights Private and Governmental
Which of the following would be considered real property
Fixtures
CH 1 Session A-1

Property Rights Private and Governmental
Application for a variance would most likely show which of the following?
Hardship on the property.
CH 1 Session A-1

Property Rights Private and Governmental
An item would be considered personal property because of its?
Mobility
CH 1 Session A-1

Property Rights Private and Governmental
An economic characterristic of real estate would be?
Modification
CH 1 Session A-1

Property Rights Private and Governmental
The purpose of zoning is to do which of the following?
Promote health and safety of the community
CH 1 Session A-1

Property Rights Private and Governmental
Personal property is included in the sale, the sales person should do which of the following?
Take inventory
CH 1 Session A-1

Property Rights Private and Governmental
An easement that "runs with the land" is known as?
Appurtenant
CH 1 Session A-1

Property Rights Private and Governmental
The city has rezoned property on a given street and the property owner has suffered a loss in value. Which of the following is true?
City owes the property owner nothing
CH 1 Session A-1

Property Rights Private and Governmental
Of the services into which real estate business may be divided, which one of the following is least likely to be offered by a real estate office?
Insurance
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Ownership implies everything except?
Destruction
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Real property is considered to be?
Buildings, land, fixtures, and appurtenances
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Of the following liens-deliqueint taxes since 2004, mortgage recorded in 2002,IRS lien recorded in 2006- Which has second priorty?
Mortgage
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
You plan to build a highrise building over a railroad track. You need to purchase?
The air rights and land for cassions for footings of the building
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Real property can be divided into corporeal and incorporeal. A corporeal right would be?
Easements
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
A man leased a building with permission to install heavy machinery. In order to install said machinery, the lessee has to install a special foundation. The foundation installed becomes a/an
Improvement
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Fixtures are?
Items of personal property that has become real property;
Considered part of the land or the building to which is attached;
Items usually not removable by seller
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
An artical may be changed from realty to personalty by:
detachment
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Which of the following is always personal property?
trade fixtures
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Two designations or classification of water law in Arizona are
Ground and Surface
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Except during a time of emergency property cannot be confiscated through the use of?
Police Power
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Which of the following would be a limitation of use of property by the government
Police power
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
In the allodial system of land ownership which of the following would not apply?
Freedom
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Zoning laws are the utilazation of the states: l.Police Power ll. Power of Eminent Domain.
l only-Police power
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
What would not be considered commercial property?
Churches
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Why does a city planner include and commercial areas as part of total community
to have a broader tax base.
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
All of the following are used as a basis in determining whether items of personal property have become real property except
Cost of the item
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
A master plan adopted by a local planning commission may not be concerned with matters of
Deed restrictions
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Real estate taxes are levied
Annually
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Ordinarily, first half property are due and payable
October
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Taxes are collected in the county by the
county treasurer
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
The word "ad Valorem best means
According to value
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
if the county sales a lien due to unpaid property taxes, What redemptiom perod does the owner hva?
3 years
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
All of the following have the rightto tax real property in the state on Arizona except
Quasi-Public Agencies
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Patent, trademarks, copyrights and royalties are an example of
Intangible personalty
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
The charges levied against real estate as a result of city installed sewer systems are called?
Assessments
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
**Which of the following is not properly included in the concept of the power of eminent domain?
The right of government to confiscate property from the owner
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Escheated property is sold at a public auction by the sheriff. The proceeds of the sale...
Are deposited into a General Fund of the state of Arizona
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
The rate of interest to be paid on past due property taxes is?
16%
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Municipalities have the right to restrict the use of properties located their in. This right comes from
Enabling legislation
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Assessments for property improvements are placed on realty based?
A pro-rata share of the costs of the improvements to the property
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Urban property is?
City property
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
When a real property tax lien has been sold for failure to pay taxes, the sale is held?
In February
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Title to personalty is conveyed by means of a document called
bill of sale
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
Those incorporeal rights in land which are attached to and " run with the land" are called?
Appurtenances
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
A buyer is obtaining a new loan to purchase property. The buyer is most likely to accept title with which of the following liens remaining unpaid as of close of escrow?
Property taxes for the current year for the property being sold
CH 1 Session A-1

Self study /quiz

Property Rights Private and Governmental
A-1 Arizona property taxes are based on?
A-1 Assessed Value
A-1 Arizona Specific
State Exam
A-1 The tax rate applied to owner occupied residential property is
A-1 10%
A-1 Arizona Specific
State Exam
A-1 Which of the following liens would have priority?
A-1 Property taxes
A-1 Arizona Specific
State Exam
A-1 Property taxes become a lien the first day of?
A-1 January
A-1 Arizona Specific
State Exam
A-1 If a Property is not bid at a tax foreclosure sale?
A-1 Anyone can later buy the tax lien from the treasurer
A-1 Arizona Specific
State Exam
A-1 Rank the following liens in the order of thier priority from highest to lowest?
A-1 Property Taxes, Special Assessments, IRS liens
A-1 Arizona Specific
State Exam
A-1 When a broker misappropiates funds this is called?
A-1 Conversion
A-1 Arizona Specific
State Exam
A-1 What type of property would have the highest tax rate?
A-1 Shopping Center
A-1 Arizona Specific
State Exam
A-1 What is the priority of property tax liens?
A-1 Always in first position
A-1 Arizona Specific
State Exam
A-1 When are the first half property taxes delinquent?
A-1 November 1
A-1 Arizona Specific
State Exam
A-1 The two designations or classifications of water law in Arizona are?
A-1 Ground and Surface
A-1 Arizona Specific
State Exam
A-1 Taxes are assessed on?
A-1 Value of the property
A-1 Arizona Specific
State Exam
A-1 The doctrine of water usage in Arizona is known as?
A-1 Prior appropriation
A-1 Arizona Specific
State Exam
A-1 Water rights in Arizona are?
A-1 First in Time, First in Right
A-1 Arizona Specific
State Exam
A-1 Arizona Property Taxes are payable?
A-1 Twice a year
A-1 Arizona Specific
State Exam
A-1 When a party owns land on a non-navigable stream, it is said that they hold title to
A-1 Low water mark
A-1 Arizona Specific
State Exam
A-1 When the county assessor evaluates real estate for the purpose of taxation this is called
A-1 Assessed value
A-1 Arizona Specific
State Exam
A-1 Real Estate taxes are levied in Arizona
A-1 Once a year
A-1 Arizona Specific
State Exam
A-1 Second half real estate taxes are due
A-1 March 1st.
A-1 Arizona Specific
State Exam
A-1 Once a homeowner's association establishes the assessments, they are paid
A-1 Annually based on the home owners association's budget
A-1 Arizona Specific
State Exam
A-1 Which of the following liens are paid first after a foreclosure?
A-1 Property Taxes
A-1 Arizona Specific
State Exam
A-1 At the end of the three year tax redemption period a person who holds the certificate purchase
A-1 May extend the period
A-1 Arizona Specific
State Exam
A-1 Which of the following best describes prior appropriation?
A-1 First in time, first in right
A-1 Arizona Specific
State Exam
A-1 Ad Valorem would apply to which of the following?
A-1 Property taxes
A-1 Arizona Specific
State Exam
A-1 The redemption period in a property tax foreclosure would be how long after a certificate of purchase has been issued?
A-1 3 years
A-1 Arizona Specific
State Exam
A-1 Of the following liens-deliqueint taxes since 2004, mortgage recorded in 2002,IRS lien recorded in 2006- Which has second priorty?
A-1 Mortgage
A-1 Arizona Specific State Exam Review
A-1 A buyer is obtaining a new loan to purchase property. The buyer is most likely to accept title with which of the following liens remaining unpaid as of close of escrow
A-1 Property taxes for current year for the property being sold
A-1 Arizona Specific State Exam Review