ASREB (Arizona School of Real Estate and Business)
Chapter 2 Exam Review Questions and A+ Level pass rate
solutions; Latest 2025/2026
Dower & Curtesy - correct answer The statutory life estates NOT recognized in Arizona
are____and____
Homestead. - correct answer The statutory life estate recognized in AZ is____
principal/primary residents - correct answer The purpose of homestead is to protect
equality in the____
general creditors - correct answer Homestead helps to protect principal/primary
residents from____
$150,000 - correct answer The maximum equity protection is____
of one homestead at a time - correct answer At any time, a person can have a
maximum of____homestead(s)
Termination of Homestead - correct answer -Sale or Transfer
-Individual moves from AZ
-Property abandoned for 2+ years
-Individual moves to a different primary residence
-if you purchase new "primary" property, homestead will transfer to primary residence
Joint Tenancy with Right of Survivorship (JTWROS) - correct answer Are two or more
people taking title with the (ROS)
-no heirs
, -Does not need to be married
-Could be more than two joint tenants
-Equal and undivided interest-Unity of interest
-Each owner has right to transfer ownership w/o
consent
-No probate
-All signatures req'd in order to transfer
-Passes to surviving TT outside of probate
-Deceased TT share...step-up-tax
Community Property with Right of Survivorship (ROS) (for spouses) - correct answer -
no heirs
-Req'd valid marriage
-Both spouses holds half interest in estate
-One spouse can't partition property by selling interest
-has survivorship
-NO probate
-goes to spouse
Tenancy In Common - correct answer -Parties does not have to be married
-Each TT holds unequal interests even if married (20%-80%)
-Each TT's interest can be transferred
-Req's signatures of ALL TT's
-Upon death it passes to heirs via a WILL or Intestacy
-Probate (no survivorship so req's probate)
-Each share has it's own tax to pay
Gross Lease - correct answer -most common lease for residential
-straight lease, flat lease
Chapter 2 Exam Review Questions and A+ Level pass rate
solutions; Latest 2025/2026
Dower & Curtesy - correct answer The statutory life estates NOT recognized in Arizona
are____and____
Homestead. - correct answer The statutory life estate recognized in AZ is____
principal/primary residents - correct answer The purpose of homestead is to protect
equality in the____
general creditors - correct answer Homestead helps to protect principal/primary
residents from____
$150,000 - correct answer The maximum equity protection is____
of one homestead at a time - correct answer At any time, a person can have a
maximum of____homestead(s)
Termination of Homestead - correct answer -Sale or Transfer
-Individual moves from AZ
-Property abandoned for 2+ years
-Individual moves to a different primary residence
-if you purchase new "primary" property, homestead will transfer to primary residence
Joint Tenancy with Right of Survivorship (JTWROS) - correct answer Are two or more
people taking title with the (ROS)
-no heirs
, -Does not need to be married
-Could be more than two joint tenants
-Equal and undivided interest-Unity of interest
-Each owner has right to transfer ownership w/o
consent
-No probate
-All signatures req'd in order to transfer
-Passes to surviving TT outside of probate
-Deceased TT share...step-up-tax
Community Property with Right of Survivorship (ROS) (for spouses) - correct answer -
no heirs
-Req'd valid marriage
-Both spouses holds half interest in estate
-One spouse can't partition property by selling interest
-has survivorship
-NO probate
-goes to spouse
Tenancy In Common - correct answer -Parties does not have to be married
-Each TT holds unequal interests even if married (20%-80%)
-Each TT's interest can be transferred
-Req's signatures of ALL TT's
-Upon death it passes to heirs via a WILL or Intestacy
-Probate (no survivorship so req's probate)
-Each share has it's own tax to pay
Gross Lease - correct answer -most common lease for residential
-straight lease, flat lease
