In Arizona, a buyer purchasing property in a designated Active Management Area (AMA) should be aware that:
Why Groundwater rights may be subject to AMA regulations, and the property may require an assured 100-year water supply Is Correct
Answer B: Groundwater rights may be subject to AMA regulations, and the property may require an assured 100-year water supply
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.
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Key Terms to Know
A 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.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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