Chapter 2

Question 1

chattel

Answer 1

personal property

Question 2

chattel real

Answer 2

an interest, such as a leasehold, in an item of immoveable property, such as land or a building

Question 3

curtesy

Answer 3

the fractional interest of a husband in the estate of his wife at the time of her death. Not legal in Arizona.

Question 4

demise

Answer 4

the transfer of possession in an estate to another by lease

Question 5

devise

Answer 5

1. real property transferred in a will 2. to transfer real property by will

Question 6

dower

Answer 6

the fractional interest of a wife in the estate of her husband at the time of his death. Not legal in Arizona.

Question 7

grantee

Answer 7

a person receiving a grant of real property from the grantor

Question 8

grantor

Answer 8

a person transferring title to real property

Question 9

holdover tenant

Answer 9

a tenant who remains in the property after the lease has expired

Question 10

homestead

Answer 10

a person’s land used as their residence, the equity in which is usually exempt from attachment by creditors to a statutorily preset amount of $150,000 in Arizona.

Question 11

inchoate

Answer 11

in complete, as an interest in property (ie. a mechanic’s lien that has been filed but not enforced)

Question 12

lessee

Answer 12

a tenant

Question 13

lessor

Answer 13

a landlord

Question 14

life estate

Answer 14

a freehold estate that is not inheritable, the duration of which is limited by the life of the measuring life, either the owner of the life estate or another designated person

Question 15

life estate in remainder

Answer 15

a life estate that passes to another named person upon the death of the measuring life

Question 16

life estate in reversion

Answer 16

a life estate that reverts back to the grantor upon the death of the measuring life

Question 17

life estate pur autre vie

Answer 17

a life estate “for the life of another” where the measuring life is someone other than the life tenant

Question 18

life tenant

Answer 18

someone who owns a life estate; the person entitled to possession of the property during the measuring life

Question 19

probate

Answer 19

the legal process of determining the validity of a will, paying the debts of the deceased and distributing the remaining assets

Question 20

remainderman

Answer 20

a third party who has a future interest in property ( a remainder estate) upon the termination of a life estate

Question 21

reversion

Answer 21

a future interest that becomes possessory when a temporary estate (such as a life estate) terminates, and that is held by the grantor (or grantor’s successors in interest)

Question 22

right of survivorship

Answer 22

the characteristic of a joint tenancy by which the surviving joint tenant (owner) automatically takes all rights, title, and interest of the deceased joint tenant

Question 23

waste

Answer 23

the reduction in value caused by destruction, damage, or material alteration of property