Arizona Real Estate Exam Review Questions and Complete Solutions

Encumber, Access, Use, Transfer, Exclude are all __________ Bundle of Rights Real Property that you can touch is __________ Corporeal Real Property you can NOT touch is __________ Incorporeal Chattel is __________ Personal Property Adjoining landowners that have the right to use the water is called __________ Littoral Rights Enabling Legislation is __________ Police Power Taking private property for public us is __________ Eminent Domain Reversion of property to state if property owner dies without a will or heirs is __________ Escheat Lessor is the __________ Owner/Landlord Lessee is the __________ Renter/tenant Landlord receives fix rent & pays all other costs is __________ Gross lease Lessor will NOT pay maintenance, insurance, taxes this is called __________ Net Lease Landlord receives a % of gross sales Percentage Lease Lease that allows the payments to adjust up or down is called __________ Index Lease A lease that starts low and then increases at set intervals is called __________ Graduated Lease A lease were one person owns the land and the other improvements is called __________ Ground Lease