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20 Cards in this Set
- Front
- Back
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A PERSON WHO HOLDS THE GREATEST OWNERSHIP RIGHTS IN THE PROPERTY THAT IS ALLOWED BY THE LAW OWNS A A) LEASEHOLD ESTATE B) LIFE ESTATE C) DEFENSIBLE ESTATE D) FEE SIMPLE ESTATE |
D) FEE SIMPLE ESTATE |
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A FATHER OWNS A HOUSE AS A FEE SIMPLE OWNER AND GIVES HIS DAUGHTER A LIFE ESTATE IN THE PROPERTY WITH A PROVISION THAT THE PROPERTY WILL PASS TO THE SON AFTER HER DEATH. THE SON HAS A A) REVERSION INTEREST B) REMAINDER INTEREST C) HOMESTEAD INTEREST D) RIPARIAN INTEREST |
B) REMAINDER INTEREST |
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RIGHTS PROVIDED BY STATUTE THAT PROTECT A FAMILY'S RESIDENCE AGAINST CREDITORS ARE CALLED A) SURVIVORSHIP RIGHTS B) DOWER RIGHTS C) HOMESTEAD RIGHTS D) ENTIRETY RIGHTS |
C) HOMESTEAD RIGHTS |
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A FEE SIMPLE PROPERTY OWNER DEEDS TITLE TO THE PROPERTY TO A CHURCH GROUP AS LONG AS THEY RUN A BATTERED WOMEN'S SHELTER ON THE PROPERTY. THE TYPE OF OWNERSHIP INTEREST HELD BY THE CHURCH GROUP IS A) FEE SIMPLE B) LIFE ESTATE C) DEFEASABLE FEE D) HOMESTEAD |
C) DEFEASABLE FEE |
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WHICH OF THE FOLLOWING DOES NOT APPLY TO HOMESTEAD PROTECTION? A) COOPERATIVE B) MOBILE HOME C) LOT D) CODOMINIUM |
C) LOT |
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HOW MUCH EQUITY DOES THE HOMESTEAD EXEMPTION PROTECT IN A PERSON'S ARIZONA RESIDENCE? A) $50,000 B) $75,000 C) $100,000 D) $150,000 |
D) $150,000 |
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THE HOMEOWNER PURCHASED A NEW RESIDENCE AND RENTED THEIR EXISTING HOME. WHICH STATEMENT IS TRUE? A) THEY WILL KEEP HOMESTEAD PROTECTION ON THE ONE THEY ARE NOW RENTING, BUT WILL NOT HAVE IT ON THE NEW ONE THEY PURCHASED B) THEY WILL HAVE HOMESTEAD PROTECTION ON NEITHER HOME C) THEY WILL HAVE HOMESTEAD PROTECTION ON THE NEW HOME PURCHASED, BUT NOT ON THE ONE THEY RENTED D) THEY WILL HAVE HOMESTEAD PROTECTION ON BOTH HOMES |
C) THEY WILL HAVE HOMESTEAD PROTECTION ON THE NEW HOME PURCHASED, BUT NOT ON THE ONE THEY RENTED
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WHAT IS THE ONLY NAVIGABLE WATERS IN ARIZONA? A) COLORADO B) SALT RIVER C) AGUA FRIA RIVER D) BARTLETT LAKE |
A) COLORADO |
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THE RETURN OF LAND TO THE GRANTOR OR THE GRANTOR'S HEIRS WHEN THE GRANT IS OVER IS BEST DESCRIBE AS A) REMAINDER B) REVERSION C) KICKBACK D) SURRENDER |
B) REVERSION |
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THE DOCTRINE OF PRIOR APPROPRIATION, THE RIGHT TO USE WATER IN AN AMA, WITH THE EXCEPTION OF LIMITED DOMESTIC USE, IS CONTROLLED BY A) THE LANDOWNER ADJACENT TO THE WATER B) THE ARIZONA DEPARTMENT OF ADJUSTMENTS C) ARIZONA DEPARTMENT OF WATER RESOURCES D) CERTIFICATE OF ASSURED WATER SUPPLY |
C) ARIZONA DEPARTMENT OF WATER RESOURCES |
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LITTORAL RIGHTS PERTAIN TO PROPERTY THAT IS A) FLOWING B) NOT FLOWING C) DATUM D) INCHOATE |
B) NOT FLOWING |
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RIPARIAN RIGHTS PERTAIN TO LAND BORDERING WATER SUCH AS A) OCEANS, SEAS OR LAKES B) STREAMS OR RIVERS C) RETENTION PONDS D) ACCRETION |
B) STREAMS OR RIVERS |
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PROPERTY OWNERS BORDERING NAVIGABLE WATER OWN LAND TO A) THE HIGH WATER MARK B) THE CENTER WATER MARK C) ACROSS THE LENGTH OF THE WATER TO THE OTHER SIDE D) THE DATUM |
A) THE HIGH WATER MARK
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HOMESTEAD EXEMPTION PROTECTS AGAINST A) VOLUNTARY LIENS B) SPECIFIC CREDITORS C) GENERAL CREDITORS D) INVOLUNTARY LIENS |
C) GENERAL CREDITORS |
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AN ORDINARY LIFE ESTATE IS BASED ON A) SOMEONE ELSE'S LIFE B) THE LIFE TENANT'S LIFE C) REMAINDER MAN D) DOWER |
B) THE LIFE TENANT'S LIFE |
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CONVENTIONAL LIFE ESTATES ARE CREATED BY THE ACTIONS A) GRANTOR B) GRANTEE C) LIFE TENANT D) ALLODIAL SYSTEM |
A) GRANTOR |
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WHEN A DEFEASIBLE ESTATE ENDS, TITLE WILL PASS BY ALL OF THE FOLLOWING EXCEPT A) TO THE ORIGINAL GRANTOR B) TO THE ORIGINAL GRANTOR'S HEIRS C) TO A SPECIFIED THIRD PARTY D) BY THE LAW OF DESCENT |
D) BY LAW OF DESCENT |
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MARY WELLS LEFT HER ESTATE FOR THE CARE OF HER DISABLED SISTER. WHEN HER SISTER DIES, THE ESTATE WILL PASS TO HER BROTHER JAMES. HER BROTHER JAMES IS KNOWN AS A) SUBORDINATE BEQUEATH B) LESSEE C) REVERTOR D) REMAINDERMAN |
D) REMAINDERMAN |
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FOR MANY YEARS THE ROBERTS FAMILY HAS OWNED LAKEFRONT PROPERTY. OVER THE YEARS THE LAKE HAS WASHED AWAY THE LAND IN FRONT OF THEIR HOUSE AND THE WATER IS NOW JUST A FEW FEET FROM THE KITCHEN DOOR. THIS PROCESS IS CALLED A) AVULSION B) PROPULSION C) EROSION D) ALLUVION |
C) EROSION |
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AMY GRANTS PROPERTY TO BILL FOR THE LIFE OF CHARLES. AFTER THE DEATH OF CHARLES THE PROPERTY GOES BACK TO AMY. WHO IS AMY? A) LIFE ESTATE PUR AUTRE VIE B) LEASEHOLD ESTATE C) REVERSIONARY D) FREEHOLD ESTATE |
C) REVERSIONARY |
