ASREB School and State Test Review Q & A Rated Perfectly!!
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Course
ASREB
Institution
ASREB
ASREB School and State Test Review Q & A Rated Perfectly!!
How are AZ property taxes charged?
Ad Valorem
What does Ad Valorem mean?
Assessed Value
How are Arizona Property Taxes paid?
Levied once, Paid Twice
When are AZ property Taxes Due? and Delinquent?
Oct-Nov and March-May (O No Mor...
ASREB School and State Test Review Q & A Rated
Perfectly!!
How are AZ property taxes charged?
Ad Valorem
What does Ad Valorem mean?
Assessed Value
How are Arizona Property Taxes paid?
Levied once, Paid Twice
When are AZ property Taxes Due? and Delinquent?
Oct-Nov and March-May (O No More Money)
Who do you pay the property taxes to?
County Treasurer
What is the penalty for AZ Property Tax Delinquency?
16%
Property Tax Assessment Ratio Residential?
10%
Property Tax Assessment Ratio Land?
16%
Property Tax Commercial/Industrial?
19%
Inchoate?
Lein not yet Complete
Are Mechanics Liens loans?
NO
Mechanics Leins must be what to be valid?
Recorded
How Many Days must you file a Mechanics "pre lien" notice?
within 20 Days of Beginning
What does "CoW" stand for?
Completion of work
How man days from "Cow" to Record a Mechanics lien?
120
How many days from recordation of Mechanics lien to file a law suit?
180
What does "homestead" do? and how much?
$150,000 homeowner equity against involuntary liens (judgements)
Must a house be a primary residence to be a Homestead?
Yes
A Homestead cannot have?
non-natural entities
What does a Homestead not protect against?
, Voluntary Liens
What does the Landlord Tenant Act Do?
Regulates relationship between landlord and tenant
Does the Landlord Tenant Act regulate relationships for property management?
NO
What is the Max security deposit?
1.5x rent
How many days must the landlord refund the Security deposit? And how much
do they refund?
14 days, 2x amount withheld and Wrongly withheld
How long does a landlord have to deliver possession?
5 days
How long does the landlord have to give to enter the rental unit?
2 days
How many days notice must a landlord give for Breach of contract?
10 days
If a tenant is doing illegal acts on property when can the landlord give notice?
Immediately
How many days does a landlord have to terminate month to month contacts?
30 days
How many days does a landlord have to terminate week to week contact?
10 days
How many days does the landlord have to terminate due to flood/fire?
14 days
How many days does a landlord have for distraint?
10 days
How many days does the landlord have to repair minor defects?
10 days
For minor defects on a leased property what may the tenant do to repair? and
what is the dollar amount?
Deduct half the rent, $300 (whichever is greater)
How many days does the landlord have to repair essential services? what
happens if they are not repaired in set time?
5days, tenant may declare lease in breach
What is a Deposit of money the public can claim against?
Recovery fund
How much does it cost for a salesperson and Broker to put into the Recovery
fund?
$10 salesperson $20 Broker
What does the recovery fund cover?
Any transaction (real estate) in the state of AZ
Can a real estate Licensee claim from the recovery fund?
No
Who else cannot claim from the recover fund?
Non Natural entities
When is the recovery funds' balance checked?
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