Property OwnershipIntermediateArizona Exam
A 'possibility of reverter' is associated with which type of estate in Arizona?
AFee simple subject to condition subsequent
BFee simple determinableCorrect
CLife estate
DTenancy at will
Why Fee simple determinable Is Correct
Answer B: Fee simple determinable
A possibility of reverter is the future interest retained by a grantor when they convey a fee simple determinable. If the stated event occurs, the property automatically reverts to the grantor without any action needed.
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
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Key Terms to Know
Life Estate
A freehold interest in real property that lasts only for the duration of a specified person's life.
Fee SimpleThe highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
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