In Arizona, mineral rights can be separated from surface rights through a process called:
Why Severance—mineral rights are conveyed or reserved separately from surface rights by deed Is Correct
Answer B: Severance—mineral rights are conveyed or reserved separately from surface rights by deed
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
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
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- In Arizona, a lender who forecloses on a deed of trust through the trustee's sale process (non-judicial foreclosure) is generally:Finance
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- In Arizona, the process of 'recording' a deed with the county recorder creates:Escrow & Title
Key Terms to Know
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
EasementA non-possessory right to use another person's land for a specific purpose.
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