In Arizona, a 'reversion' is the future interest that returns to the:
Why Original grantor (or their heirs) when a limited estate terminates Is Correct
Answer B: Original grantor (or their heirs) when a limited estate terminates
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
The highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
Life EstateA freehold interest in real property that lasts only for the duration of a specified person's life.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
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