Questions

Question 1

Property rights that go with ownership of real property are referred to as the…

Answer 1

Bundle of Rights

Question 2

Surface of the earth, below to the center, and above, with all natural things is…

Answer 2

Real Estate or Land

Question 3

Land plus man-made attachments is…

Answer 3

Realty (real estate)

Question 4

Real estate, plus ownership rights is…

Answer 4

Real Property

Question 5

Personal property is conveyed with a document called a…

Answer 5

Bill of Sale

Question 6

Naturally growing plants are considered what type of property…

Answer 6

Real property

Question 7

Emblements are considered what type of property…

Answer 7

Personal

Question 8

An item which was once personal property but is now real property is…

Answer 8

appurtenance, fixture, attachment

Question 9

Ownership of trade fixtures depend on…

Answer 9

intent

Question 10

People’s preference for a certain area is called…

Answer 10

situs

Question 11

The document used to transfer real property is a…

Answer 11

deed

Question 12

What are the five tests of a fixture?

Answer 12

Method of Attachment
Agreement of parties
Relationship to parties
Intent
Adapability

Question 13

The due date for property taxes for the first half of the year is…

Answer 13

October

Question 14

The delinquent date for property taxes for the first half of the year is…

Answer 14

November

Question 15

The due date for the property taxes for the second half of the year is…

Answer 15

March

Question 16

The delinquent date for property taxes for the second half of the year is…

Answer 16

May

Question 17

Property taxes are based on the…… of the property

Answer 17

Value

Question 18

Property taxes are levied…. and paid….

Answer 18

once and paid twice

Question 19

Property taxes can be paid to….

Answer 19

County treasurer

Question 20

The property tax lien sale in Arizona is held in

Answer 20

February

Question 21

Unpaid property taxes can become a lien…

Answer 21

in January

Question 22

The penalty for delinquent property taxes is…

Answer 22

16%

Question 23

The bidding at a tax lien sale begins with…

Answer 23

16%

Question 24

The successful bidder is the one who accepts the…

Answer 24

lowest interest rate

Question 25

The redemption period for the property tax sale is....

Answer 25

3 years

Question 26

Property taxes are always in what lien position...

Answer 26

1st

Question 27

Ad valorem taxes are based on...

Answer 27

value

Question 28

Special assessments are based on...

Answer 28

prorated share

Question 29

The front footage of a property is...

Answer 29

the linear front footage

Question 30

Local government gets their authority through legislation passed by the state called

Answer 30

police powers

Question 31

Police power is without

Answer 31

bias

Question 32

Regulation and control of the use of land is achieved through

Answer 32

zoning

Question 33

The right of the government to take private property for public good is...

Answer 33

eminent domain

Question 34

The process by which property is taken for the public good is...

Answer 34

condemnation

Question 35

When condemnation occurs the property owner must be given

Answer 35

just compensation

Question 36

The term for someone dying with a will is...

Answer 36

intestate

Question 37

When an individual dies with a will and has heirs, his property is distributed according to the...

Answer 37

laws of descent

Question 38

The process of verifying the validity of a will is called...

Answer 38

Probate

Question 39

The act or process of taking private property for public use, through the government's power of eminent domain.

Answer 39

Condemnation

Question 40

Item of personal property that has been attached to or closely associated with real property to become part of the real property

Answer 40

Attachment

Question 41

The reversion of property to the state after a person dies without leaving a valid will or any heirs

Answer 41

Escheat

Question 42

A tax levied only against properties that benefit from a public improvement.

Answer 42

Special Assessment

Question 43

The right of government bodies to take private real estate for public use upon payment of just compensation to the owner.

Answer 43

Eminent Domain

Question 44

A concept for property taxes that means 'according to value'

Answer 44

Ad Valorem

Question 45

The location of a parcel of real property

Answer 45

Situs

Question 46

An instrument in writing that transfers ownership of tangible personal property

Answer 46

Bill of Sale

Question 47

An item of personal property that is annexed to leased property and is necessary to a business; removed at lease termination.

Answer 47

Trade Fixture

Question 48

The right of government to pass legislation protecting the safety, health, and welfare of the public.

Answer 48

Police power

Question 49

Attaching personal property to land so that the law views it as apart of the real property

Answer 49

Annexation

Question 50

The physical land itself to the center of the earth and the sky above, anything permanently affixed, and the associated rights.

Answer 50

Real Property

Question 51

A person who dies without making a will, causing his or her estate to pass on by the laws of descent and distribution.

Answer 51

Intestate

Question 52

For property tax purposes, a percentage of the market value

Answer 52

Assessed Value

Question 53

Natural things growing on land, such as trees, shrubs, or crops.

Answer 53

Emblements

Question 54

Which of the following would be considered personal property? a tree a bathtub window blinds harvested crops

Answer 54

Harvested crops

Question 55

Real property can be divided into corporeal and incorporeal. Which would be an incorporeal right? an easement fences and walls all improvements a house and barn

Answer 55

an easement

Question 56

An article may be changed from realty to personalty by annexation severance verbal declaration order of the Commissioner

Answer 56

severence

Question 57

Which of the following is always personal property appurtenances fixtures trade fixtures shrubbery

Answer 57

trade fixtures

Question 58

Shelving and counters are securely fastened in a leased retail store. Such items are realty fixtures trade fixtures none of these

Answer 58

trade fixtures

Question 59

Real estate taxes are levied biannually annually semi-annually in even numbered years

Answer 59

annually

Question 60

Ordinarily, first half property taxes are due and payable March 1 May 1 October 1 November 1

Answer 60

October 1

Question 61

The word "ad valorem" best means the adding of value an assessment according to value worth is assumed

Answer 61

according to value

Question 62

Patents, trademarks, copyrights and royalties are an example of corporeal realty tangible personalty incorporeal realty intangible personalty

Answer 62

intangible personalty

Question 63

The charges levied against real estate as a result of city-installed sewer systems are called property taxes a general lien special assessments all of these

Answer 63

special assessments

Question 64

Which of the following is NOT properly included in the concept of the power of eminent domain The right of government to confiscate personal property from the owner An inherent power of the government Just compensation at fair market value

Answer 64

the right of government to confiscate personal property from the owner

Question 65

Escheated property is sold at public auction by the sheriff. The proceeds of the sale Go to the heirs of the deceased go to the county where the property is located are received by the State Real Estate Department for deposit into the Recovery Fund are deposited into the general fund of the State of Arizona

Answer 65

Are deposited into the general fund of the State of Arizona

Question 66

When rights transfer with a deed, this is referred to as chattel real reversionary rights leasehold bundle of rights

Answer 66

bundle of rights