2024 Arizona Real Estate Salesperson Exam With 100% Correct Answers//2023 Arizona Real Estate Salesperson Exam
What are the two requirements of the property if the anti-deficiency statute is to apply? - CORRECT ANSW-2.5 acres or less. Utilized as a family home for a 1 or 2 family dwelling.
In a deed of trust, who is the "trustor?" - CORRECT ANSW-The person buying the house (the purchaser).
Who has priority in liens even over a purchase money mortgage lien filed prior? - CORRECT ANSW-Liens for unpaid property taxes and agricultural liens on crops.
Does an IRS lien filed in 2015 have priority over a mortgage filed in 2014? - CORRECT ANSW
No. In Arizona, IRS liens do not have priority a mortgage/deed of trust filed prior to it.
Does a lien for property taxes filed in 2015 have priority over a mortgage filed in 2014? - CORRECT ANSW-Yes. In Arizona, state property tax liens do take priority over other liens.
What is the title of the person who supervises the estate of someone who died without a will? - CORRECT ANSW-Administrator.
What is the title of the person who supervises the estate of someone who died with a will? - CORRECT ANSW-Executor.
Who has title in a land contract? - CORRECT ANSW-Vendor. The person who sells his land keeps the title.
A loan that is sold from one lender to another is... - CORRECT ANSW-assigned. (A mortgage whose payments are taken over by another borrow is "assumed"). The relationship
between the seller and buyer is "assignor" and "assignee" when it comes to a mortgage.
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