Under the Arkansas Constitution, what is the maximum acreage that qualifies for the homestead exemption for a primary residence located in a rural area outside any city or town?
Correct Answer
D) 80 acres
Under Arkansas Constitution, Article 9, §§ 3–6, the homestead exemption for property located in a rural area (outside a city or town) extends up to 80 acres. This large acreage limit reflects Arkansas's agricultural heritage and protects farm homesteads from most creditor claims.
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Related Topics & Key Terms
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Related Concepts
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
In Wyoming real estate practice, a first-time salesperson applicant completes coursework. What should the licensee remember?
A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
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