Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
153 Cards in this Set
- Front
- Back
|
INDIVIDUAL OWNERSHIP IS ALSO CALLED: A) JOINT TENANCY B) CO-OP C) SEPARATE D) SEVERALTY |
D |
|
|
WHICH OF THE FOLLOWING IS NOT A FORM OF CO-OWNER SHIP: A) TENANTS IN COMMON B) COMMUNITY PROPERTY WROS C) SEVERALTY D) TENANCY BY THE ENTIRETY |
C |
|
|
WHICH OF THE FOLLOWING IS NOT A TRUST: A) INTERVIVOS B) REIT C) TENANTS IN COMMON D) TESTAMENTARY |
C |
|
|
ALL OF THE FOLLOWING ARE OTHER FORMS OF OWNERSHIP EXCEPT: A) COOPERATIVES B) CONDOMINIUMS C) TOWNHOUSE D) COMMUNITY PROPERTY |
D |
|
|
OWNING REAL ESTATE ALONE IS CALLED SOLE OWNERSHIP OR SEVERALTY. SEVERALTY MEANS: A) SEVERAL B) SEVERED C) SEVERAL D) NONE OF THE ABOVE |
B |
|
|
WHEN THE TITLE IS TAKEN IN SEVERALTY AND THE OWNER DIES THE PROPERTY IS PASSED IN THE EASIEST METHOD TO CONVEY AND IS PASSED TO ANY OF THE FOLLOWING EXCEPT: A) BROKER B) THEIR HEIRS C) A LEGAL ENTITY D) CORPORATION, ASSOCIATION |
A |
|
|
ALL GOVERNMENT-OWNED PROPERTY IS WHAT TYPE OF OWNERSHIP: A) TENANTS IN COMMON B) SEVERALTY C) JOINT TENANCY D) SHARES OF STOCK |
B |
|
|
THE MOST WIDELY USED FORM OF CO-OWNERSHIP FOR SINGLE AND UNMARRIED IS: A) JOINT TENANCY B) COMMUNITY PROPERTY C) TENANTS IN COMMON (TIC) D) SEVERALTY |
C |
|
|
IN ARIZONA, IF TWO SINGLE PEOPLE DO NOT STATE HOW THEY CHOOSE TO TAKE TITLE, THEY WILL AUTOMATICALLY BECOME: A) SEVERALTY B) COMMUNITY PROPERTY C) JOINT TENANCY D) TENANTS IN COMMON |
D |
|
|
EACH OWNER HAS RIGHT OF POSSESSION OF THE ENTIRE PARCEL AND HAS AN: A) UNDIVIDED INTEREST B) SHARE OF THE PROPERTY C) JOINT SHARES D) COMMUNITY SHARES |
A
|
|
|
AS TENANTS IN COMMON THE INTEREST IN OWNERSHIP MUST BE EQUAL: A) TRUE B) FALSE |
B |
|
|
UNDER TENANTS IN COMMON IS THERE RIGHT OF SURVIVORSHIP? A) TRUE B) FALSE |
B |
|
|
WHICH TYPE OF OWNERSHIP ALWAYS HAS RIGHT OF SURVIVORSHIP? A) TENANTS IN COMMON B) REIT C) SEVERALTY D) JOINT TENANCY |
D |
|
|
WHY IS JOINT TENANCY ALSO CALLED POOR MAN'S WILL: A) NO TRUST IS INVOLVED B) MUST GO TO PROBATE C) WILL OVERRULES THE JOINT TENANCY D) THEIR PORTION OF INTEREST GOES TO CO-OWNERS WITHOUT PROBATE |
D |
|
|
WHEN THE LAST CO-OWNER IS THE SOLE SURVIVOR IN THE JTWROS, OWNERSHIP REVERTS TO SEVERALTY BECAUSE THEY ARE THE SOLE OWNER? A) TRUE B) FALSED |
A |
|
|
UNDER JTWROS, EACH CO-OWNER'S INTEREST CANNOT BE WILLED TO THEIR HEIRS: A) TRUE B) FALSE |
A |
|
|
WHICH OF THESE ARE THE FOUR UNITIES (PITT) REQUIRED TO CREATE A VALID JOINT TENANCY: A) TIME, INTEREST,TYPE OF COMMUNITY, PERSONAL B) TIME, CONTROL INTEREST, TITLE C) TIME, POSSESSION, TITLE, INTEREST D) NONE OF THE ABOVE |
C |
|
|
UNDER JTWROS EACH RECEIVER MUST SIGN A JOINT TENANCY DEED VERIFYING AND ACKNOWLEDGING THEY CANNOT WILL THEIR SHARE TO THEIR HEIRS: A) TRUE B) FALSE |
A |
|
|
WHAT IS THE COURT PROCESS TO DIVIDE OWNERSHIP UNDER JTWROS IF THERE IS A DISAGREEMENT? A) RESOLUTION PARTITION B) PARTITION ACTION C) SEVERALTY ACTION D) PROBATE |
B |
|
|
CAN CORPORATIONS TAKE TITLE AS JOINT TENANTS? A) TRUE B) FALSE |
B |
|
|
A SINGLE INDIVIDUAL WOULD TAKE TITLE IN |
SEVERALTY OR SOLE & SEPARATE |
|
|
THE EASIEST METHOD OF OWNERSHIP TO CONVEY IS? |
SEVERALTY/SOLE & SEPARATE |
|
|
ARIZONA'S PRESUMPTION FOR UNMARRIED CO-OWNERS IS: |
TENANTS IN COMMON |
|
|
GOVERNMENT-OWNED BUILDING ARE HELD IN: |
SEVERALTY |
|
|
ALL FORMS OF CO-OWNERSHIP INCLUDE THE RIGHT OF: |
UNDIVIDED POSSESSION |
|
|
SHARE FOR TENANTS IN COMMON CAN BE: |
EQUAL OR UNEQUAL |
|
|
SHARE FOR JOINT TENANCY MUST BE |
EQUAL |
|
|
THE FOUR UNITIES (PITT) FOR A VALID JOINT TENANCY ARE |
POSSESSION, TIME, TITLE, INTEREST |
|
|
WHICH UNITY FOR A VALID JOINT TENANCY MEANS OWNERSHIP WAS CREATED AT THE SAME TIME? |
TIME |
|
|
WHICH UNITY FOR A VALID JOINT TENANCY MEANS THERE IS ONLY ONE DEED?
|
TITLE |
|
|
WHICH UNITY FOR A VALID JOINT TENANCY MEANS EACH CO-OWNER HAS TO BE EQUAL % OF OWNERSHIP?
|
INTEREST |
|
|
WHICH UNITY FOR A VALID JOINT TENANCY MEAN ALL CO-OWNERS SHARE UNDIVIDED POSSESSION AND NO ONE MAY CLAIM TO OWN A SPECIFIC PHYSICAL PORTION OF THE PROPERTY EXCLUSIVELY? |
POSSESSION |
|
|
WHEN CO-OWNERS CANNOT AGREE ON MANAGEMENT OR DISPOSITION OF PROPERTY, THEY CAN APPEAL TO THE COURTS FOR: |
PARTITION ACTION/SUIT |
|
|
WHEN A CO-OWNER IN JOINT TENANCY SELLS THEIR SHARE, THE NEW CO-OWNER TAKES TITLE AS: |
TENANTS IN COMMON |
|
|
CORPORATIONS WILL ALWAYS TAKE TITLE IN: |
SEVERALTY |
|
|
LIST THE FORMS OF OWNERSHIP THAT ALLOW THE INTERESTS TO BE WILLED TO THEIR HEIRS: |
TENANTS IN COMMON, SEVERALTY |
|
|
ARIZONA IS ONE OF ONLY A FEW STATES THAT HAVE ENACTED COMMUNITY PROPERTY LAWS? A) TRUE B) FALSE |
A |
|
|
UNDER COMMUNITY PROPERTY EACH CO-OWNER OWNS UNEQUAL SHARES: A) TRUE B) FALSE |
B |
|
|
UNDER COMMUNITY LAWS EACH SPOUSE HAS HOW MUCH OWNERSHIP OF REAL AND PERSONAL PROPERTY? A) PARTIAL INTEREST B) UNEQUAL SHARES C) HALF |
C |
|
|
IN ARIZONA, ONE SPOUSE CAN PURCHASE PROPERTY WITHOUT THE CONSENT OF THE OTHER, BUT EACH SPOUSE CANNOT SELL, ENCUMBER OR CONVEY THEIR HALF WITHOUT WHAT: |
THE CONSENT OF THE OTHER SPOUSE |
|
|
IN ARIZONA, IT TAKES ONE SPOUSE TO SELL AND TWO SPOUSES CONSENT TO BUY UNDER COMMUNITY PROPERTY: A) TRUE B) FALSE |
B |
|
|
IF TITLE IS TAKEN AS COMMUNITY PROPERTY, UPON THE DEATH OF EITHER SPOUSE, THE SURVIVING SPOUSE OWNS HALF: A) TRUE B) FALSE |
A |
|
|
WHICH TYPE OF OWNERSHIP IS FOR MARRIED COUPLES ONLY: |
COMMUNITY PROPERTY WROS |
|
|
THE FOUR UNITIES ARE NOT REQUIRED FOR COMMUNITY PROPERTY WITH RIGHT OF SURVIVORSHIP? A) TRUE B) FALSE |
A |
|
|
DIVORCE OR ANNULMENT DOES NOT TERMINATE CPWROS. A) TRUE B) FALSE |
B |
|
|
IN ARIZONA, IS TENANCY BY THE ENTIRETY LEGAL? A) YES B) NO |
B |
|
|
THE THEORY OF COMMUNITY PROPERTY IS THAT SPOUSES ARE: |
EQUAL PARTNERS |
|
|
IF TITLE IS VESTED AS COMMUNITY PROPERTY AND ONE SPOUSE DIES, WHO OWNS THE PROPERTY: |
ONLY KNOW THAT SURVIVING SPOUSE OWNS 50% |
|
|
PROPERTY BROUGHT INTO THE MARRIAGE REMAINS SEPARATE AS LONG AS IT IS NOT COMMINGLED WITH COMMUNITY PROPERTY: A) TRUE B) FALSE |
A |
|
|
WHAT UNITIES ARE REQUIRED FOR JOINT TENANCY? |
POSSESSION, INTEREST, TITLE AND TIME |
|
|
WHY IS TENANCY BY ENTIRETY NOT LEGAL IN ARIZONA? |
BECAUSE OF COMMUNITY LAWS |
|
|
WHAT ARE THE FOUR WAYS CO-OWNERSHIP CAN BE TERMINATED? |
VOLUNTARILY BY ALL PARTIES TO END, PARTITION ACTION/SUIT, OPERATION OF LAW UNDER BANKRUPTCY OR FORCLOSURE, UNDER JTWROS, IF ONE OF FOUR UNITIES IS DESTROYED. |
|
|
WHAT ARE THE THREE PARTIES TO A TRUST: A) BROKER, TRUSTEE, TRUSTOR B) TRUSTEE, TRUSTOR AND BENEFICIARY C) ATTORNEY, TRUSTEE AND BENEFICIARY D) HEIRS, TRUSTEE AND BENEFICIARY |
B |
|
|
THE PROPERTY OWNER UNDER A TRUST CAN BE THE TRUSTOR AND THE BENEFICIARY: A) TRUE B) FALSE |
A |
|
|
THIS IS THE TRUST MANAGER AND CAN BE AN INDIVIDUAL OR A CORPORATION? |
TRUSTEE |
|
|
THIS IS THE PERSON OR ENTITY THAT BENEFITS? |
BENEFICIARY |
|
|
THIS IS THE PERSON WHO IS THE CREATOR OF THE TRUST? |
TRUSTOR |
|
|
THE TRUSTEE HAS A SPECIAL LEGAL AND CONFIDENTIAL RELATIONSHIP TO THE BENEFICIARY AND IS A? |
FIDICUARY |
|
|
"INTERVIVOS" TRUST MEANS WITHIN ONE'S LIFE AND IS ALSO KNOW AS? |
A LIVING TRUST |
|
|
THIS TRUST IS CREATED AND TAKES AFFECT DURING YOUR LIFE |
INTERVIVOS TRUST |
|
|
A LIVING TRUST CAN BE REVOKED AT ANY TIME. A) TRUE B) FALSE |
A |
|
|
TESTAMENTARY TRUST IS SET UP BY: |
WILL |
|
|
TESTAMENTARY TRUST BECOMES EFFECTIVE UPON THE PROPERTY OWNER'S WHAT? |
DEATH |
|
|
IN THIS TRUST THE ONLY ASSET IS LAND: |
LAND TRUST |
|
|
A LAND TRUST WHERE OWNERSHIP IS NOT DIVULGED IS CALLED A? |
BLIND TRUST |
|
|
ARE BLIND TRUST LEGAL? |
NO, THE NAME OF BENEFICIARY/OWNER IS A REQUIREMENT THAT MUST BE PART OF THE PUBLIC RECORD |
|
|
REAL ESTATE INVESTMENT TRUST (REIT) MUST MEET ALL OF THE FOLLOWING EXCEPT: A) 75% OF ASSETS MUST BE IN REAL ESTATE B) 95% OF GAINS MUST GE DISTRIBUTED EACH YEAR C) THERE MUST BE A MINIMUM OF 100 INVESTORS/BENEFICIARIES D) ALL OF THE ABOVE |
D |
|
|
REITS MUST FILE REPORTS WITH THE SEC UNDER LAWS REFERRED TO AS: |
BLUE SKY LAWS |
|
|
BLUE SKYS LAWS REQUIRE STATES TO IMPOSE WHAT, IN THE STATES WHERE THE OFFERS ARE MADE? |
STANDARDS AND REGULATIONS OF SECURITIES WITH THE SECURITIES COMMISSIONER |
|
|
BLUE LAWS RESTRICT DOING BUSINESS ON SUNDAYS AND CERTAIN RELIGIOUS HOLIDAYS ARE ALSO KNOWN AS: |
RELIGIOUS LAWS |
|
|
BLUE SKY LAWS PROTECT: A) THE SELLER B) THE STATE C) THE PUBLIC D) AGENTS |
C |
|
|
WHAT ARE THE BENEFITS OF OWNING A HOME: |
FREEDOM FROM LANDLORD RESTRICTIONS AND TAX ADVANTAGES |
|
|
THIS TYPE OF HOUSE IS LOCATED ON AN INDIVIDUAL LOT: |
SINGLE FAMILY HOME |
|
|
THIS TYPE OF HOME IS LOCATED ON A SMALL LOT AND THE HOME IS FREQUENTLY BUILT TO THE LOT LINE OR ATTACHED TO ANOTHER HOME: |
PATIO HOME |
|
|
THIS TYPE OF HOUSING IS OWNED BY A CORPORATION AND OWNERS PURCHASE SHARES OF STOCK: |
COOPERATIVE |
|
|
UNDER A COOPERATIVE THE OWNERS OF SHARES OF STOCK, THEY OCCUPY THE PROPERTY AS TENANTS WITH A: |
PROPRIETARY LEASE |
|
|
UNDER A COOPERATIVE IF THE OTHER SHAREHOLDERS DEFAULT THE REMAINING SHAREHOLDERS ARE: |
LIABLE |
|
|
THIS TYPE OF OWNERSHIP OWNERS OWN ONLY AIR IN UNIT AND NO LAND: |
CONDOMINIUM |
|
|
AN ENABLING DECLARATION IS CREATED FOR THIS TYPE OF HOME: |
CONDOMINIUM |
|
|
AN ENABLING DECLARATION CHANGES A SINGLE INTO INDIVIDUAL ESTATES WITH A COMMON AREA AND MUST BE APPROVED BY THE STATE: |
CONDOMINIUM |
|
|
UNDER THIS TYPE OF HOME EACH UNIT MAY BE OWNED FEE SIMPLE ABSOLUTE BY THE INDIVIDUAL OWNER WHO PAYS CASH OR FINANCES IT SEPARATELY FROM OTHER OWNERS: |
CONDOMINIUM |
|
|
THE COMMON AREAS UNDER CONDOMINIUM ARE HELD AS: |
TENANTS IN COMMON |
|
|
DEVELOPERS OF CONDOMINIUM PROJECTS ARE REQUIRED TO OBTAIN THIS TO SELL INDIVIDUAL UNITS? |
PUBLIC DISCLOSURE REPORT |
|
|
IF LESS THAN 50 UNITS, WHO IS RESPONSIBLE TO PROVIDE THE BY LAWS TO THE BUYER/S: |
SELLER
|
|
|
IF THERE ARE 50 UNITS OR MORE, PROVIDING BY LAWS TO THE BUYER/S IS THE RESPONSIBILITY OF: |
ASSOCIATION'S RESPONSIBILITY |
|
|
THIS TYPE OF HAS A NON-PROFIT HOA AND IS OWNED FEE SIMPLE ABSOLUTE: |
TOWNHOME
|
|
|
IN ORDER TO SELL TIMESHARES IN ARIZONA, YOU MUST: |
HAVE A REAL ESTATE LICENSE
|
|
|
TELEMARKETERS CANNOT DISCUSS THE TIMESHARE PRODUCT AND WHO MUST BE PRESENT WHEN MARKETING CALLS ARE MADE: A) SUPERVISOR B) NO ONE ELSE HAS TO PRESENT C) REAL ESTATE BROKER D) TELEMARKETERS CAN DISCUSS THE TIMESHARE AVAILABILITY OVER THE PHONE |
C |
|
|
THE RESCISSION PERIOD ON A TIMESHARE IS: |
UP TO MIDNIGHT ON THE 7TH DAY |
|
|
THE COMMISSION MUST APPROVE WHAT FOR THE SITE BEFORE ANY MEMBERSHIP FOR CAMPING CAN BE SOLD? |
PUBLIC REPORT |
|
|
IF A RESCISSION IS RECEIVED ON A MEMBERSHIP CAMPING, THE OPERATOR MUST MAKE A FULL REFUND WITHIN HOW MANY DAYS FROM THE RECEIPT OF THE CANCELLATION NOTICE: |
WITHIN 30 DAYS |
|
|
A TRUST THAT IS CREATED AND TAKES EFFECT DURING ONE'S LIFETIME IS REFERRED TO AS A |
LIVING TRUST/INTERVIVOS |
|
|
AS PART OF REITS GUIDELINES, THE MINIMUM NUMBER OF BENEFICIARIES IS: |
100 |
|
|
WHO OWNS THE COMMON AREAS IN A TOWNHOUSE DEVELOPMENT: |
NON-PROFIT CORPORATION |
|
|
WHAT IS THE LATEST TIME THAT A PROSPECTIVE PURCHASER OF A TIMESHARE CAN RESCIND THE PURCHASE? |
7 CALENDAR DAYS BY MIDNIGHT |
|
|
INDIVIDUALS WHO LIVE IN A COOPERATIVE OWN WHAT? |
SHARES OF STOCK |
|
|
WHAT DO INDIVIDUALS WHO LIVE IN A COOPERATIVE HAVE THAT ALLOWS THEM TO OCCUPY THEIR SPECIFIC UNIT? |
PROPRIETARY LEASE |
|
|
A TESTAMENTARY TRUST IS CREATED BY WHAT? |
WILL |
|
|
INDIVIDUALS WHO OWN A CONDOMINIUM PURCHASE WHAT? |
AIR LOTS |
|
|
ALL CONDOMINIUMS OWNERS OWN THE COMMON AREAS AS WHAT? |
TENANTS IN COMMON |
|
|
CONDOMINIUMS ARE CREATED BY WHAT? |
ENABLING DECLARATION |
|
|
IF THE CONDOMINIUM COMPLEX HAS LESS THAN 50 UNITS, WHOSE RESPONSIBILITY IS IT TO PROVIDE THE PROSPECTIVE PURCHASER WITH THE BYLAWS? |
THE SELLER |
|
|
CORPORATIONS HAVE WHAT? |
STOCKHOLDERS
|
|
|
IN ARIZONA, CORPORATIONS MUST FILE WHAT WITH THE ARIZONA CORPORATION COMMISSION? |
ARTICLES OF INCORPORATION |
|
|
CORPORATIONS MAY HOLD TITLE TO REAL PROPERTY IN SEVERALTY OR AS? |
TENANTS IN COMMON |
|
|
CORPORATIONS NEVER HOLD TITLE AS WHAT? |
JTWROS, BECAUSE LEGAL ENTITY DOES NOT DIE |
|
|
THE CORPORATION IS TAXED ON? |
INCOME |
|
|
THE SHAREHOLDERS IN A CORPORATION ARE TAXED ON? |
ON THEIR DIVIDENDS |
|
|
LIABILITY FOR SHAREHOLDERS IS LIMITED TO THE? |
VALUE OF THEIR STOCK |
|
|
IN A PARTNERSHIP, EACH INDIVIDUAL IS A |
PARTNER |
|
|
WHAT ARE THE TWO TYPES OF PARTNERS? |
GENERAL AND LIMITED |
|
|
THIS TYPE OF PARTNER IS RESPONSIBLE FOR OPERATION OF THE BUSINESS AND HAS UNLIMITED LIABILITY? |
GENERAL PARTNER |
|
|
THIS TYPE OF PARTNER HAS NO MANAGEMENT RESPONSIBILITY AND LIABILITY IS LIMITED TO THE AMOUNT OF THEIR INVESTMENT |
LIMITED PARTNER |
|
|
ADVANTAGES OF LLCs ARE LIMITED LIABILITY, FULL MANAGEMENT PARTICIPATION AND DIRECT PASS-THROUGH ADVANTAGES? A) TRUE B) FALSE |
A |
|
|
JOINT VENTURES ARE BUSINESS PARTNERS FORMED FOR WHAT? |
JUST ONE PROJECT |
|
|
JOINT VENTURES ARE DESIGNED TO BE ON-GOING: A) TRUE B) FALSE |
FALSE, JUST FOR ONE PROJECT |
|
|
THIS IS A TERM USED TO DESCRIBE MULTIPLE OWNERSHIP IS FOR A GROUP OF PEOPLE OR COMPANIES JOINED TOGETHER FOR THE PURPOSE OF MAKING AND OPERATING AN INVESTMENT? |
SYNDICATION |
|
|
INDIVIDUALS WHO HAVE OWNERSHIP IN A CORPORATION ARE CONSIDERED? |
SHAREHOLDERS |
|
|
CORPORATIONS CANNOT TAKE TITLE IN WHAT FORM? |
JTWROS, CAN'T DIE |
|
|
IN A PARTNERSHIP, WHAT TYPE OF PARTNER HAS FULL MANAGEMENT RESPONSIBILITY? |
GENERAL PARTNERS |
|
|
A BUSINESS ASSOCIATION FOR ONLY ONE INVESTMENT PROJECT IS A |
JOINT VENTURE |
|
|
WHAT TYPE OF OWNERSHIP METHOD IS PREFERRED FOR SMALL OR MEDIUM SIZED BUSINESSES? |
LLC |
|
|
INDIVIDUAL OWNERSHIP AS A NATURAL PERSON OR LEGAL PERSON? |
SEVERALTY |
|
|
GOVERNMENT-OWNED PROPERTY IS VESTED IN? |
SEVERALTY |
|
|
OWNER HAS RIGHT TO WILL PROPERTY TO THEIR HEIRS? |
SEVERALTY |
|
|
TWO OR MORE UNMARRIED INDIVIDUALS TAKING TITLE WITHOUT RIGHT OF SURVIVORSHIP? |
TENANTS IN COMMON |
|
|
ARIZONA'S PRESUMPTION FOR UNMARRIED INDIVIDUALS IF NO OTHER METHOD IS SELECTED? |
TENANTS IN COMMON |
|
|
SHARES DO NOT HAVE TO BE EQUAL: ASSUMED EQUAL UNLESS STATED OTHERWISE? |
TENANTS IN COMMON |
|
|
EACH OWNER HAS THE RIGHT TO WILL THEIR SHARES TO THEIR HEIRS. INTEREST PASSES TO HEIRS WITH NO RIGHT OF SURVIVORSHIP? |
TENANTS IN COMMON |
|
|
EACH OWNER HAS THE RIGHT TO POSSESS ENTIRE PROPERTY? |
TENANTS IN COMMON |
|
|
EACH HAS THE RIGHT TO TRANSFER THEIR SHARE WITHOUT THE CONSENT OF THE OTHERS; GRANTOR WILL BECOME TENANT IN COMMON WITH OTHER CO-OWNERS. |
TENANTS IN COMMON |
|
|
EACH HAS SEPARATE TITLE? |
TENANTS IN COMMON |
|
|
NO PROBATE CONSIDERED POOR MAN'S WILL? |
JTWROS |
|
|
TWO OR MORE INDIVIDUALS OR ENTITIES TAKING TITLE WITH RIGHT OF SURVIVORSHIP? |
JTWROS |
|
|
EACH OWNER HAS RIGHT TO TRANSFER THEIR PORTION WITHOUT CONSENT? NEW PERSON IN TENANT IN COMMON WITH NO RIGHT OF SURVIVORSHIP? |
JTWROS |
|
|
IN ARIZONA, RIGHT OF SURVIVORSHIP MUST BE STATED; NOT IMPLIED? |
JTWROS |
|
|
MUST HAVE THE FOUR UNITIES; TIME, TITLE INTEREST AND POSSESSION |
JTWROS |
|
|
FOR HUSBAND AND WIFE ONLY; EQUAL PARTNERS EACH OWNING HALF |
COMMUNITY PROPERTY |
|
|
CONVEYANCE REQUIRES WRITTEN CONSENT OF BOTH SPOUSES? |
COMMUNITY PROPERTY |
|
|
EACH SPOUSE CAN WILL (DEVISE) ONE-HALF WITHOUT THE OTHER SPOUSE'S CONSENT? |
COMMUNITY PROPERTY |
|
|
UPON DEATH OF ONE SPOUSE, ONE-HALF BELONGS TO SURVIVOR IN SEVERALTY AND ONE-HALF GOES BY WILL TO DECEDENT'S HEIRS OR BY SUCCESSION TO SURVIVOR? THE RESULT IS A TENANCY IN COMMON BETWEEN HEIR AND SURVIVING SPOUSE. |
COMMUNITY PROPERTY |
|
|
FOR HUSBAND AND WIFE ONLY |
COMMUNITY PROPERTY WROS |
|
|
WHEN ONE SPOUSE DIES, THE SURVIVING SPOUSE OWNS ALL |
COMMUNITY PROPERTY WROS |
|
|
TYPE OF OWNERSHIP NOT LEGAL IN ARIZONA |
TENANCY BY THE ENTIRETY |
|
|
ONE CANNOT SELL WITHOUT CONSENT OF THE OTHER |
TENANCY BY THE ENTIRETY |
|
|
A PERSON WHO RECEIVES BENEFITS FROM THE ACTS OF ANOTHER AS IN THE CASE OF ONE DESIGNATED TO RECEIVE THE PROCEEDS FROM A TRUST? |
BENEFICIARY |
|
|
THE LEGAL DOCUMENT THAT THE DEVELOPER OF A CONDOMINIUM UNDER STATE LAW? |
ENABLING DECLARATION |
|
|
THE DIVIDING OF CO-OWNERS INTEREST IN REAL PROPERTY; ACTION OFTEN TAKEN WHEN PARTIES CANNOT REACH AN AGREEMENT. |
PARTITION SUIT |
|
|
SURVIVING CO-OWNERS SUCCEEDS TO ALL RIGHTS, TITLE AND INTEREST OF THE DECEASED CO-OWNER WITHOUT THE NEED FOR PROBATE? |
RIGHTS OF SURVIVORSHIP |
|
|
LAWS THAT RESTRICT TRANSACTIONS OF BUSINESS ON SUNDAYS AND CERTAIN HOLIDAYS? |
BLUE LAWS |
|
|
SECURITIES LAWS DESIGNED TO PROTECT THE PUBLIC FROM FRAUDULENT PRACTICES IN THE PROMOTION AND SALE OF SECURITIES? |
BLUE SKY LAWS |
|
|
MINGLE OR MIX |
COMINGLING |
|
|
RELATIONSHIP THAT IMPLIES A POSITION OF TRUST AND CONFIDENCE |
FIDUCIARY |
