Property Ownership
Arizona allows married couples to hold title as 'community property with right of survivorship.' The primary advantage of this form of ownership is:
AIt allows either spouse to sell the property without the other's consent
BIt provides a full stepped-up tax basis and avoids probate upon the first spouse's death✓ Correct
CIt limits each spouse's liability to their share of the property
DIt requires a partition action to separate interests
Explanation
Community property with right of survivorship provides both a full stepped-up income tax basis on the entire property at the first spouse's death AND passes the property directly to the surviving spouse outside of probate.
Related Arizona Property Ownership Questions
- An Arizona property owner has a license to use a neighbor's land. Unlike an easement, this license is:
- In Arizona, the term 'appurtenances' includes all of the following EXCEPT:
- The government's right to take private property in Arizona for public use — with just compensation — is known as:
- Arizona's Planned Community Act governs:
- An easement appurtenant in Arizona involves:
- An Arizona property owner who voluntarily transfers their real property to a nonprofit conservation organization by deed while retaining the right to live there is creating a:
- In Arizona, 'subsurface rights' include the right to:
- In Arizona, when a property owner voluntarily gives up property rights to the government without compensation, this is called:
Practice More Arizona Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →