Broker Law Review L-4
The legal right of a landlord to seize the tenant's belongings for rents in arrears is called:
Forbearance
Distraint
Constructive eviction
Actual eviction
If a tenant is living without permission on the property after the lease expires, what type of estate would the tenant most likely hold?
Estate for years
Estate at sufferance
Estate for period
Estate at will
When a sale and leaseback takes place, the advantage for the lessee is that he or she can:
Depreciate the building
Receive the appreciation
Deduct the rent as an expense
Refinance much easier
When a property is rented for only one month, this is called what kind of tenancy?
Period to period
At will
For years
Mont to month
When a lease is for an indefinite period of time, this is called:
Estate for period to period
Estate for years
Estate at will
Estate at sufferance
In a sale and leaseback, what is correct?
Title does not move
Title does move
Grantee becomes the lessee
Grantor becomes the lessor
A party who holds possession of realty after expiration of a lease holds a/an:
Estate at Will
Month to Month Tenancy
Estate at Sufferance
Estate for Years
In what type of lease would the renter pay all expenses?
Net
Gross
Index
Percentage
A lease is unaffected by all of the following EXCEPT:
Death of the lessor
Death of the lessee
Destruction
Adverse possession
In a lease, the lessor:
Subrogates his interest
Subordinates his interest
Demises his interest
Assigns his interest
When a property is sublet, the new lessee is referred to as the:
Assignor
Assignee
Second lessor
Tenant
Which of the following would have an interest in real estate but not an estate?
Lease
Life tenant
Fee conditional ownership
Lender
When a lease is entered into, it is between the:
Lessor and optionor
Lessor and mortgager
Lessee and lessor
Lessee and agent
What would be the advantage to the lessee in a net lease?
Lessee could deduct mortgage interest on his income taxes
Lessee could deduct property taxes on his income taxes
Lessee could deduct building depreciation on his income taxes
Lessee would not pay utilities
A lease where the lessee will pay a fixed rent plus a portion of the gross sales is called:
Index
Percentage
Positive leasehold
Graduated
When a lease is assigned, all of the following are true except:
The original lessee is free from responsibility
A new lessee is created
The original lessor remains the same
An assignment can be done without the lessor's approval
When a lease is inherited, the estate would be known as:
Fee simple
Leasehold
Sufferance
At will
When a lessee signs a net lease, the taxes, insurance and maintenance are paid by the:
Lessor
Lessee
Vendor
Mortgagee
Which is true of a sale with a leaseback?
The seller becomes the lessor
The seller frees up cash for other uses
The buyer of the building becomes the lessee
Seller can depreciate the building over 39 years
Which of the following would have a percentage lease?
Muncipality
Utility company
Public library
Art gallery
A leases to B. A will pay all costs of operation plus repairs. This lease is called:
Net
Gross
Percentage
Index
When a sale and leaseback occurs:
The seller is the landlord
The seller is the lessor
The buyer is the landlord
The buyer is the lessee
What type of lease would help maintain the financial positions of the lessor and lessee?
Gross lease
Net lease
Index lease
Percentage lease
Which of the following is NOT true regarding a sale and leaseback transaction?
Frees up the lessees cash
Rental payments may be tax deductible
Lessor retains legal title
Lessee retains legal title
A landlord using graduated leases as a strategy to attract tenants would result in:
Rents being increased based on an index
Rents being increased as tenants are procured
Rents being decreased at a specified date
Rents increasing or decreasing upon renewal of lease
Which of the following leases escalate?
Net
Index
Gross
Estate for years
A holdover tenant would have:
An estate at sufferance
An estate at will
Freehold estate
Remainder estate
If at the end of a lease, the tenant is allowed to remain for an indefinite length of time, this estate is best described as:
Estate at sufferance
Estate at will
Estate for years
Holdover tenancy
When a tenant moves out of the property due to an electrical fire, this eviction is called:
Actual
Constructive
Detainer
Sufferance
A forcible entry and detainer would be an action taken by which of the following parties?
Mortgagor
Mortgagee
Vendor
Lessor
When a tenant moves out because the landlord will not maintain the property in a livable manner, this is called:
Constructive Eviction
Actual Eviction
Forcible Detainer
Writ of Restitution
Which of the following would not be part of the Landlord-Tenant Act:
Security deposits regulations
Property management regulations
Notices for eviction
Notice of self-help repairs
A landlord wishes to show a party your apartment. He may do so with which of the following notices:
24 hours
48 hours
72 hours
6 hours
If a property is damaged by fire and the tenant moves out, which of the following statements are true:
Tenant may terminate the lease with a 14 day written notice
Tenant may terminate the lease with a 10 day written notice
Tenant may terminate the lease with a 7 day written notice
Tenant may terminate the lease with a 3 day written notice
In order to terminate a month-to-month lease, a person would be required to give:
10 days notice
14 days notice
21 days notice
30 days notice
When a tenant fails to pay rent, the landlord would first deliver to the tenant which of the following?
Judgment
5-day notice
Forcible detainer
Abandonment notice
All of the following are true regarding security deposits on residential property except:
Landlord may collect up to one and one-half times the monthly rent
Tenant may pay in excess of one and one-half times the monthly rent if agreed
Landlord may charge one and one-half times monthly rent plus first and last month's rent
Landlord may charge a non-refundable cleaning fee
How many days does the landlord have in which to give the tenant a full accounting of the security deposit upon termination of tenancy?
3 days
10 days
14 days
21 days
The landlord fails to provide the tenant with a full accounting of the security deposit within the required time and it is determined that the landlord wrongfully withheld $1000. Now, the landlord must give the tenant a total of:
$4000
$3000
$2000
$1500
All of the following disclosures are required to be given by the landlord to the tenant except:
Name of the person authorized to manage the unit
Name and mailing address of the property owner
Name of the person who is to receive all notices and demands
Notify the tenant that a free copy of the landlord tenant act is available at the Security of State's office
Before a tenant can exercise the self-help for minor defect provision, the tenant must give the owner how many days to cure the defect?
3
5
7
10
If the landlord fails to comply with the rental agreement, the tenant may terminate the lease if the breach is not corrected in how many days?
3 days
7 days
10 days
14 days
If the landlord fails to comply with the rental agreement in matters affecting health and safety, the tenant may terminate the lease if the breach is not corrected in how many days?
3 days
5 days
10 days
14 days
All of the following are true regarding self-help for minor defects EXCEPT:
Tenant must give the landlord 10 days to comply
All notices given to the landlord must be in writing
Tenant may spend up to 1/2 month rent or $300 whichever is greater
Tenant may deduct work cost from rent in an amount of twice the rent
What is the maximum security deposit allowed by the Arizona Landlord Tenant Act:
One month rent
1 1/2 months rent
1 1/2 months rent plus last month
First and last months rent plus 1 1/2 months security
Rent control would least likely benefit the:
Property Owner
Tenant
Real Estate Broker
Local Municipality
Megan's Law would apply to which of the following?
Information regarding child molesters
A buyer's right to resend a contract
Disclosure of lead based paint
Older person housing limiting children
Chattel real would best be defined as:
Fee simple
Devise
Intestate
Personal property
Quite enjoyment refers to:
Arrangement between landlord and tenant
The type of neighborhood
Lender will not foreclose if loan is in default
A lease may be assigned without lessors approval
When a tenant remains in the property after expiration of the lease, this is called:
Estate for years
Holdover tenant
Estate at will
Estate by necessity
A person leases a property and would like to build a house on the leased land. The tenant's rights would be:
Fee simple
First right of refusal
Option to buy
Leasehold
Under the Arizona Landlord Tenant Act the landlord of a multi-family residence is responsible for which of the following?
Providing educational materials to the tenant regarding bedbugs
Placing the tenant security deposit in an interest bearing account
Providing a full accounting of the security deposit within 10 days upon request
Giving a copy of the Americans with Disabilities Act to each tenant
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