The 'Mrs. Murphy exemption' to the Fair Housing Act in Arizona applies to:
Why Owner-occupied buildings with no more than 4 units where the owner resides in one of the units Is Correct
Answer B: Owner-occupied buildings with no more than 4 units where the owner resides in one of the units
Exam Tip: Fair Housing
Fair Housing questions test both federal (Fair Housing Act of 1968) and state-level protected classes. The federal protected classes are race, color, religion, national origin, sex, familial status, and disability. Many states add additional protections.
Key Fair Housing Terms in This Question
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Key Terms to Know
Federal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
Community PropertyIn community property states, most property acquired during marriage is owned equally by both spouses, regardless of who paid for it.
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