Property OwnershipIntermediateArizona Exam

A 'fee simple defeasible' estate in Arizona is one that:

AHas no conditions attached to ownership and cannot be defeated by any action

BMay be defeated (terminated) if certain conditions are violated or metCorrect

CIs always owned by multiple parties simultaneously

DPasses automatically to the state of Arizona at the owner's death if no will exists

Why May be defeated (terminated) if certain conditions are violated or met Is Correct

Answer B: May be defeated (terminated) if certain conditions are violated or met

A fee simple defeasible (or qualified fee) estate is ownership that may be terminated if the holder violates a specified condition or if a stated event occurs. Types include fee simple determinable and fee simple subject to condition subsequent.

Exam Tip: Property Ownership

Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.

Key Property Ownership Terms in This Question

Fee Simple

The highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.

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Key Terms to Know

Fee Simple

The highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.

Chain of Title

The sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.

Deed

A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).

Easement

A non-possessory right to use another person's land for a specific purpose.

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