Arizona Real Estate Reciprocal Exam
Prep
100 or more - The Office of Interstate Land Sales Registration requires
registration when the number of lots being offered is 100 or more
nonexempt lots. correct answersWhen land is offered interstate, it would be
regulated by the Office of Interstate Land Sales Registration. What number
of lots must be offered for the regulation to take place?
Assured water supply correct answersWhen a new residential development
is taking place in an Active Management Area, the developer would be
required to provide which of the following?
A private water company to serve
the area Adequate water supply
Domestic well
Assured water supply
Accretion correct answersA gradual addition to dry land by the forces of
nature, as when the tide deposits water-borne sediment on shoreline
property.
Affidavit of Affixture correct answersA document for owners of mobile
homes certifying that the home is immobilized, I.e. anchored to real
property
Appurtenance correct answersA right, privilege, or improvement
belonging to, and passing with, the land.
Bill of Sale correct answersA document used to transfer ownership of
personal property.
Bundle of Rights correct answersThe rights of an owner to possess, control,
enjoy, sell, lease, mortgage, and dispose of the property.
Conversion correct answersThe process of changing real property to
personal property or personal property to real
Deed correct answersA document that transfers ownership of property from
one party to another.
Emblements correct answersFarm crops of a tenant farmer, which not
automatically transferred with real property, and are considered personal
property.
,Erosion correct answersthe process of eroding or being eroded by wind,
water, or other natural agents.
Fixture correct answersAn item of personal property that has been
converted to real property by being permanently affixed to the realty.
Grantee correct answersA person who receives a conveyance of real
property from a grantor.
Grantor correct answersthe individual who conveys the ownership rights of
real property
Heterogeneity correct answersA characteristic of real property indicating its
diversity or uniqueness.
Personal Property correct answersTangible items that (usually) are not
permanently attached to or part of real estate; any property that is not
real property; movable property not affixed to land. Also called Chattel or
Personalty.
Real Property correct answersThe physical land itself, all the way down to
the center of the Earth, and to the sky up above, and anything attached to
the land such as buildings, improvements, fixtures, and associated rights
such as water rights and easements.
Riparian Rights correct answersAn owner's rights in land that borders on or
includes a stream, river, or lake. These rights include access to and use of
the water.
Indestructibility correct answersRefers to the fact that real estate cannot
be destroyed.
True correct answers(T/F) In Arizona, an owner must be given at least 20
days notice prior to the government beginning a lawsuit to acquire property
under Eminent Domain
True correct answers(T/F) A person who dies without a will is said to have
died intestate
General Plan correct answersA long-range governmental or private program
to regulate use and development of property in an orderly manner.
Master Planned Community correct answersplanned combination of diverse
land uses, such as housing, recreation, and shopping, in one contained
development or subdivision; also called a planned unit development (PUD)
Natural Area Open Space (NAOS) correct answersAn area or wide easement
restricting and preserving the use as a natural environment.
Arizona 811 (Blue Stake) correct answersWhen planning to dig in Arizona,
the location of underground utilities may be marked by calling 811.
Site Plan correct answersA plan of proposed improvements to a parcel
,Building Footprint correct answersThe area on a site plan that is used for the
structures
Building Envelope correct answersAll the components that make up the
shell or skin of the building, separating the exterior from the interior.
True correct answers(T/F) Master planned communities often contain
numerous planned unit developments (PUDs) developed by different
home builders
True correct answers(T/F) The area on the site plan that outlines the
structure is the building footprint
False; NAOS is simply an abbreviation for natural open space, which is an
area or wide easement restricting and preserving the use as a natural
environment. correct answers(T/F) NAOS is a government agency that
preserves land for open space
False: zoning ordinances and building codes are enacted through police
powers correct answers(T/F) Zoning ordinances and building codes are
enacted through eminent domain
Buffer zones correct answersA Transitional area between two areas of
different predominant land uses.
True correct answers(T/F) Setbacks limit the area of a lot that may be
developed
Area Variance correct answersEntitles landowners to use land in a way that
is typically not allowed by the dimensional or physical requirements of the
zoning law.
Use Variance correct answersAn exception to the application of a zoning
ordinance to permit an otherwise prohibited use within the zone.
True correct answers(T/F) Before issuing someone a 'Use Variance' the city
must notify residents in the area the variance is requested for
Nonconforming Use correct answersA use of property that is permitted to
continue after a zoning ordinance prohibiting it has been established for the
area.
10 days correct answersWhen buying a resale property in a planned
community, within how many days shall the purchaser be provided with
bylaws, association rules, planned community declaration, principal HOA
contact, etc.
True correct answers(T/F) If there are 50 or more units in a planned
development, the HOA association must provide bylaws, HOA contact, etc.
Master Deed correct answersA document that converts a parcel of
land into a condominium regime; also called
, enabling declaration, declaration of condominium, or declaration agreement
183'; take Lot B total SF of 43,005 and divide by 235 because 235 feet long
is the shared boundary with the neighbor. So with length already
determined, we just need to find width :) correct answersJoe is looking at
two rectangular lots that are adjacent.
According to the plat map, Lot A has a square footage of 46,060, and Lot B
has a
square footage of 43,005. The common boundary they share is 235 feet
long. What is the width of Lot B?
9,000 SF; take 180x100 for area, then divide by two because it is a
triangle and not a full rectangular lot. correct answersLot 18 in Happy
Acres is a triangle measuring 180 feet at the base. It is 100 feet deep.
Calculate the area of the lot.
$420,000; frontage lot is the first number 50x100 and 100x100. Add these
two for 150. Then multiply 150 by 2800 for $420,000 correct answersIvy
bought two adjacent lots. Lot A is 50'x100' and Lot B is 100'x100'. She
divided the two lots into three lots and is selling them for $2,800 per front
foot. If she sells all three for her asking price, how much will Ivy get?
5,280 correct answersHow many feet are in one Mile?
43,560 correct answersHow many square feet are in an acre?
Yes; the lot would be 24,000 SF. Half of an acre (43,560) would be 21,780 SF
correct answersLet's say you are working with buyers George and Judy, who
are looking for an empty lot to build a custom home. They want to have at
least half an acre. you have found a lot that you think is suitable for them.
The lot measures 120'x200'. Will this lot meet their size request?
$30,492; 1 acre = 43,560 so take (1.75x43,560) which gives you $76,230.
Then take
$76,230 and times it by .40 for 40 cents per square foot, which then gives
you $30,492. correct answersA 1.75 acre lot sells for 40 cents per square
foot. What is the selling price?
10,200 SF; take 85x120 which gives you 10,200 correct answersIf a parcel of
land is 85 feet x 120 feet, what is its area?
4.13; Take (300x600) which gives you 180,000. Then take 180,000 and
divide it by 43,560 (number of SF in one acre) which then gives you
4.132231405. round to 4.13 correct answersHow many acres are
contained in a parcel of land 300ftx600ft?
Front Footage correct answersThe dimension across the access side of a
parcel of land. The access could be a road, railroad tracks, or water. When
referring to lot size, frontage is the first number. Also called: Frontage.
Prep
100 or more - The Office of Interstate Land Sales Registration requires
registration when the number of lots being offered is 100 or more
nonexempt lots. correct answersWhen land is offered interstate, it would be
regulated by the Office of Interstate Land Sales Registration. What number
of lots must be offered for the regulation to take place?
Assured water supply correct answersWhen a new residential development
is taking place in an Active Management Area, the developer would be
required to provide which of the following?
A private water company to serve
the area Adequate water supply
Domestic well
Assured water supply
Accretion correct answersA gradual addition to dry land by the forces of
nature, as when the tide deposits water-borne sediment on shoreline
property.
Affidavit of Affixture correct answersA document for owners of mobile
homes certifying that the home is immobilized, I.e. anchored to real
property
Appurtenance correct answersA right, privilege, or improvement
belonging to, and passing with, the land.
Bill of Sale correct answersA document used to transfer ownership of
personal property.
Bundle of Rights correct answersThe rights of an owner to possess, control,
enjoy, sell, lease, mortgage, and dispose of the property.
Conversion correct answersThe process of changing real property to
personal property or personal property to real
Deed correct answersA document that transfers ownership of property from
one party to another.
Emblements correct answersFarm crops of a tenant farmer, which not
automatically transferred with real property, and are considered personal
property.
,Erosion correct answersthe process of eroding or being eroded by wind,
water, or other natural agents.
Fixture correct answersAn item of personal property that has been
converted to real property by being permanently affixed to the realty.
Grantee correct answersA person who receives a conveyance of real
property from a grantor.
Grantor correct answersthe individual who conveys the ownership rights of
real property
Heterogeneity correct answersA characteristic of real property indicating its
diversity or uniqueness.
Personal Property correct answersTangible items that (usually) are not
permanently attached to or part of real estate; any property that is not
real property; movable property not affixed to land. Also called Chattel or
Personalty.
Real Property correct answersThe physical land itself, all the way down to
the center of the Earth, and to the sky up above, and anything attached to
the land such as buildings, improvements, fixtures, and associated rights
such as water rights and easements.
Riparian Rights correct answersAn owner's rights in land that borders on or
includes a stream, river, or lake. These rights include access to and use of
the water.
Indestructibility correct answersRefers to the fact that real estate cannot
be destroyed.
True correct answers(T/F) In Arizona, an owner must be given at least 20
days notice prior to the government beginning a lawsuit to acquire property
under Eminent Domain
True correct answers(T/F) A person who dies without a will is said to have
died intestate
General Plan correct answersA long-range governmental or private program
to regulate use and development of property in an orderly manner.
Master Planned Community correct answersplanned combination of diverse
land uses, such as housing, recreation, and shopping, in one contained
development or subdivision; also called a planned unit development (PUD)
Natural Area Open Space (NAOS) correct answersAn area or wide easement
restricting and preserving the use as a natural environment.
Arizona 811 (Blue Stake) correct answersWhen planning to dig in Arizona,
the location of underground utilities may be marked by calling 811.
Site Plan correct answersA plan of proposed improvements to a parcel
,Building Footprint correct answersThe area on a site plan that is used for the
structures
Building Envelope correct answersAll the components that make up the
shell or skin of the building, separating the exterior from the interior.
True correct answers(T/F) Master planned communities often contain
numerous planned unit developments (PUDs) developed by different
home builders
True correct answers(T/F) The area on the site plan that outlines the
structure is the building footprint
False; NAOS is simply an abbreviation for natural open space, which is an
area or wide easement restricting and preserving the use as a natural
environment. correct answers(T/F) NAOS is a government agency that
preserves land for open space
False: zoning ordinances and building codes are enacted through police
powers correct answers(T/F) Zoning ordinances and building codes are
enacted through eminent domain
Buffer zones correct answersA Transitional area between two areas of
different predominant land uses.
True correct answers(T/F) Setbacks limit the area of a lot that may be
developed
Area Variance correct answersEntitles landowners to use land in a way that
is typically not allowed by the dimensional or physical requirements of the
zoning law.
Use Variance correct answersAn exception to the application of a zoning
ordinance to permit an otherwise prohibited use within the zone.
True correct answers(T/F) Before issuing someone a 'Use Variance' the city
must notify residents in the area the variance is requested for
Nonconforming Use correct answersA use of property that is permitted to
continue after a zoning ordinance prohibiting it has been established for the
area.
10 days correct answersWhen buying a resale property in a planned
community, within how many days shall the purchaser be provided with
bylaws, association rules, planned community declaration, principal HOA
contact, etc.
True correct answers(T/F) If there are 50 or more units in a planned
development, the HOA association must provide bylaws, HOA contact, etc.
Master Deed correct answersA document that converts a parcel of
land into a condominium regime; also called
, enabling declaration, declaration of condominium, or declaration agreement
183'; take Lot B total SF of 43,005 and divide by 235 because 235 feet long
is the shared boundary with the neighbor. So with length already
determined, we just need to find width :) correct answersJoe is looking at
two rectangular lots that are adjacent.
According to the plat map, Lot A has a square footage of 46,060, and Lot B
has a
square footage of 43,005. The common boundary they share is 235 feet
long. What is the width of Lot B?
9,000 SF; take 180x100 for area, then divide by two because it is a
triangle and not a full rectangular lot. correct answersLot 18 in Happy
Acres is a triangle measuring 180 feet at the base. It is 100 feet deep.
Calculate the area of the lot.
$420,000; frontage lot is the first number 50x100 and 100x100. Add these
two for 150. Then multiply 150 by 2800 for $420,000 correct answersIvy
bought two adjacent lots. Lot A is 50'x100' and Lot B is 100'x100'. She
divided the two lots into three lots and is selling them for $2,800 per front
foot. If she sells all three for her asking price, how much will Ivy get?
5,280 correct answersHow many feet are in one Mile?
43,560 correct answersHow many square feet are in an acre?
Yes; the lot would be 24,000 SF. Half of an acre (43,560) would be 21,780 SF
correct answersLet's say you are working with buyers George and Judy, who
are looking for an empty lot to build a custom home. They want to have at
least half an acre. you have found a lot that you think is suitable for them.
The lot measures 120'x200'. Will this lot meet their size request?
$30,492; 1 acre = 43,560 so take (1.75x43,560) which gives you $76,230.
Then take
$76,230 and times it by .40 for 40 cents per square foot, which then gives
you $30,492. correct answersA 1.75 acre lot sells for 40 cents per square
foot. What is the selling price?
10,200 SF; take 85x120 which gives you 10,200 correct answersIf a parcel of
land is 85 feet x 120 feet, what is its area?
4.13; Take (300x600) which gives you 180,000. Then take 180,000 and
divide it by 43,560 (number of SF in one acre) which then gives you
4.132231405. round to 4.13 correct answersHow many acres are
contained in a parcel of land 300ftx600ft?
Front Footage correct answersThe dimension across the access side of a
parcel of land. The access could be a road, railroad tracks, or water. When
referring to lot size, frontage is the first number. Also called: Frontage.
