SlideShare ist ein Scribd-Unternehmen logo
1 von 12
Using the Affidavit of Disclosure
Lesson Objectives ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Requirements for use of the Affidavit A.R.S  § 33-422 ,[object Object],[object Object],[object Object],[object Object]
Purchase Contract Clauses ,[object Object],[object Object],Affidavit of Disclosure: “If the Premises is located in an unincorporated area of the county, and five or fewer parcels of property other than subdivided property are being transferred, the Seller shall deliver a completed Affidavit of Disclosure in the form required by law to the Buyer within five (5) days after Contract acceptance. Buyer shall provide notice of any Affidavit of Disclosure items disapproved within the Inspection Period or five (5) days after receipt of the Affidavit of Disclosure, whichever is later.
What is an “Unincorporated” area? An unincorporated area is land located outside the corporate limits of a city or town.  (  further defined in A.R.S  § 9-101) Cave Creek Commercial (Scotts) Phoenix Scottsdale School
What is “subdivided” land? ,[object Object],[object Object],[object Object],“ Improved or unimproved land  or lands divided or proposed to be divided for the purpose of sale or lease, whether immediate or future, into  six or more lots , parcels or fractional interests”
How is “unsubdivided” land split? ,[object Object],[object Object],[object Object],[object Object],[object Object]
What information is included in the Affidavit of Disclosure? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
What should a Buyer do with in the Affidavit of Disclosure? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
How does receipt of Affidavit affect Sale? ,[object Object],[object Object],[object Object],[object Object],[object Object]
How is the Statute enforced? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Lesson Review ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Weitere ähnliche Inhalte

Andere mochten auch

Leveraging Social Media For Independent School Advancement
Leveraging Social Media For Independent School AdvancementLeveraging Social Media For Independent School Advancement
Leveraging Social Media For Independent School AdvancementJustin Medved
 
3 d pie chart circular puzzle with hole in center pieces 7 stages style 4 pow...
3 d pie chart circular puzzle with hole in center pieces 7 stages style 4 pow...3 d pie chart circular puzzle with hole in center pieces 7 stages style 4 pow...
3 d pie chart circular puzzle with hole in center pieces 7 stages style 4 pow...SlideTeam.net
 
Video Marketing Arik Czerniak Affilicon Israel June 2009
Video Marketing Arik Czerniak Affilicon Israel June 2009Video Marketing Arik Czerniak Affilicon Israel June 2009
Video Marketing Arik Czerniak Affilicon Israel June 2009affilicon
 
靚女熟女蓓爾益
靚女熟女蓓爾益靚女熟女蓓爾益
靚女熟女蓓爾益clubshe
 
南極マラソン報告会 半原小学校スライド
南極マラソン報告会 半原小学校スライド南極マラソン報告会 半原小学校スライド
南極マラソン報告会 半原小学校スライドAKASAKA_TAKESHI
 
Google analytics常用指标及解读
Google analytics常用指标及解读Google analytics常用指标及解读
Google analytics常用指标及解读askcliff
 
How effective is the combination...
How effective is the combination...How effective is the combination...
How effective is the combination...rebeccalambert
 
Singapore 新加坡
Singapore 新加坡Singapore 新加坡
Singapore 新加坡He Yan
 
Entrepreneurial lessons apr2012
Entrepreneurial lessons apr2012Entrepreneurial lessons apr2012
Entrepreneurial lessons apr2012Sam Beal
 
Hultian November edition
Hultian November editionHultian November edition
Hultian November editionMehras Karim
 
Technology inventory
Technology inventoryTechnology inventory
Technology inventoryPinhsuan
 
广州市信息化验收培训
广州市信息化验收培训广州市信息化验收培训
广州市信息化验收培训JamesNi
 

Andere mochten auch (14)

Leveraging Social Media For Independent School Advancement
Leveraging Social Media For Independent School AdvancementLeveraging Social Media For Independent School Advancement
Leveraging Social Media For Independent School Advancement
 
3 d pie chart circular puzzle with hole in center pieces 7 stages style 4 pow...
3 d pie chart circular puzzle with hole in center pieces 7 stages style 4 pow...3 d pie chart circular puzzle with hole in center pieces 7 stages style 4 pow...
3 d pie chart circular puzzle with hole in center pieces 7 stages style 4 pow...
 
Video Marketing Arik Czerniak Affilicon Israel June 2009
Video Marketing Arik Czerniak Affilicon Israel June 2009Video Marketing Arik Czerniak Affilicon Israel June 2009
Video Marketing Arik Czerniak Affilicon Israel June 2009
 
靚女熟女蓓爾益
靚女熟女蓓爾益靚女熟女蓓爾益
靚女熟女蓓爾益
 
南極マラソン報告会 半原小学校スライド
南極マラソン報告会 半原小学校スライド南極マラソン報告会 半原小学校スライド
南極マラソン報告会 半原小学校スライド
 
Google analytics常用指标及解读
Google analytics常用指标及解读Google analytics常用指标及解读
Google analytics常用指标及解读
 
How effective is the combination...
How effective is the combination...How effective is the combination...
How effective is the combination...
 
Singapore 新加坡
Singapore 新加坡Singapore 新加坡
Singapore 新加坡
 
Entrepreneurial lessons apr2012
Entrepreneurial lessons apr2012Entrepreneurial lessons apr2012
Entrepreneurial lessons apr2012
 
Hultian November edition
Hultian November editionHultian November edition
Hultian November edition
 
Technology inventory
Technology inventoryTechnology inventory
Technology inventory
 
Nathan Fink
Nathan FinkNathan Fink
Nathan Fink
 
Social media for biz dev
Social media for biz devSocial media for biz dev
Social media for biz dev
 
广州市信息化验收培训
广州市信息化验收培训广州市信息化验收培训
广州市信息化验收培训
 

Ähnlich wie Arizona Affidavit Of Disclosure

Az Legal Contract Buyers/Sellers - 8/2019 current
Az Legal Contract Buyers/Sellers - 8/2019 currentAz Legal Contract Buyers/Sellers - 8/2019 current
Az Legal Contract Buyers/Sellers - 8/2019 currentHeather McClaren
 
How to Prepare Closing Documents in a Residential Real Estate Transaction
How to Prepare Closing Documents in a Residential Real Estate TransactionHow to Prepare Closing Documents in a Residential Real Estate Transaction
How to Prepare Closing Documents in a Residential Real Estate TransactionKaren Alridge
 
Auctioneer Webinar Series: Lien Law 101 - Florida
Auctioneer Webinar Series: Lien Law 101 - FloridaAuctioneer Webinar Series: Lien Law 101 - Florida
Auctioneer Webinar Series: Lien Law 101 - FloridaCheli Rosa
 
The Nuts & Bolts of a 363 Motion
The Nuts & Bolts of a 363 MotionThe Nuts & Bolts of a 363 Motion
The Nuts & Bolts of a 363 MotionFinancial Poise
 
Lien law 101 - Texas
Lien law 101 - TexasLien law 101 - Texas
Lien law 101 - TexasCheli Rosa
 
The Nuts & Bolts of a 363 Motion
The Nuts & Bolts of a 363 MotionThe Nuts & Bolts of a 363 Motion
The Nuts & Bolts of a 363 MotionFinancial Poise
 
Asset Purchase AgreementThe attached draft aircraft purchase agree.docx
Asset Purchase AgreementThe attached draft aircraft purchase agree.docxAsset Purchase AgreementThe attached draft aircraft purchase agree.docx
Asset Purchase AgreementThe attached draft aircraft purchase agree.docxlauricesatu
 
Cps residential (2)
Cps   residential (2)Cps   residential (2)
Cps residential (2)LolaOduwole
 
Mkg Tax Consultants Franchise Disclosure Document
Mkg Tax Consultants Franchise Disclosure DocumentMkg Tax Consultants Franchise Disclosure Document
Mkg Tax Consultants Franchise Disclosure DocumentMKG Enterprises Corp
 
Commonly Used Forms RE39R06
Commonly Used Forms RE39R06Commonly Used Forms RE39R06
Commonly Used Forms RE39R06Jody O'Brien
 
Prac pp chp 10
Prac pp chp 10Prac pp chp 10
Prac pp chp 10Cyrus Helf
 
Chapter 15 Condition of property the seller’s disclosures .docx
Chapter 15 Condition of property the seller’s disclosures   .docxChapter 15 Condition of property the seller’s disclosures   .docx
Chapter 15 Condition of property the seller’s disclosures .docxketurahhazelhurst
 
Chapter 15 Condition of property the seller’s disclosures .docx
Chapter 15 Condition of property the seller’s disclosures   .docxChapter 15 Condition of property the seller’s disclosures   .docx
Chapter 15 Condition of property the seller’s disclosures .docxbartholomeocoombs
 
Rider to Contract of Sale: Right of first refusal
Rider to Contract of Sale: Right of first refusal Rider to Contract of Sale: Right of first refusal
Rider to Contract of Sale: Right of first refusal Mitchell M. Hecht
 
Listing A Property For Sale
Listing A Property For SaleListing A Property For Sale
Listing A Property For Saledarryllwhaley
 
Viada 2013 Auto Fraud Symposium
Viada 2013 Auto Fraud SymposiumViada 2013 Auto Fraud Symposium
Viada 2013 Auto Fraud SymposiumRLSOPAO
 
Auctioneer Lien Law Webinar Series - Lien law 101
Auctioneer Lien Law Webinar Series - Lien law 101Auctioneer Lien Law Webinar Series - Lien law 101
Auctioneer Lien Law Webinar Series - Lien law 101Cheli Rosa
 

Ähnlich wie Arizona Affidavit Of Disclosure (20)

Va jurs addendum
Va jurs addendumVa jurs addendum
Va jurs addendum
 
Az Legal Contract Buyers/Sellers - 8/2019 current
Az Legal Contract Buyers/Sellers - 8/2019 currentAz Legal Contract Buyers/Sellers - 8/2019 current
Az Legal Contract Buyers/Sellers - 8/2019 current
 
How to Prepare Closing Documents in a Residential Real Estate Transaction
How to Prepare Closing Documents in a Residential Real Estate TransactionHow to Prepare Closing Documents in a Residential Real Estate Transaction
How to Prepare Closing Documents in a Residential Real Estate Transaction
 
Auctioneer Webinar Series: Lien Law 101 - Florida
Auctioneer Webinar Series: Lien Law 101 - FloridaAuctioneer Webinar Series: Lien Law 101 - Florida
Auctioneer Webinar Series: Lien Law 101 - Florida
 
The Nuts & Bolts of a 363 Motion
The Nuts & Bolts of a 363 MotionThe Nuts & Bolts of a 363 Motion
The Nuts & Bolts of a 363 Motion
 
Lien law 101 - Texas
Lien law 101 - TexasLien law 101 - Texas
Lien law 101 - Texas
 
The Nuts & Bolts of a 363 Motion
The Nuts & Bolts of a 363 MotionThe Nuts & Bolts of a 363 Motion
The Nuts & Bolts of a 363 Motion
 
Asset Purchase AgreementThe attached draft aircraft purchase agree.docx
Asset Purchase AgreementThe attached draft aircraft purchase agree.docxAsset Purchase AgreementThe attached draft aircraft purchase agree.docx
Asset Purchase AgreementThe attached draft aircraft purchase agree.docx
 
Cps residential (2)
Cps   residential (2)Cps   residential (2)
Cps residential (2)
 
Mkg Tax Consultants Franchise Disclosure Document
Mkg Tax Consultants Franchise Disclosure DocumentMkg Tax Consultants Franchise Disclosure Document
Mkg Tax Consultants Franchise Disclosure Document
 
Chap10
Chap10Chap10
Chap10
 
Commonly Used Forms RE39R06
Commonly Used Forms RE39R06Commonly Used Forms RE39R06
Commonly Used Forms RE39R06
 
Prac pp chp 10
Prac pp chp 10Prac pp chp 10
Prac pp chp 10
 
Chapter 15 Condition of property the seller’s disclosures .docx
Chapter 15 Condition of property the seller’s disclosures   .docxChapter 15 Condition of property the seller’s disclosures   .docx
Chapter 15 Condition of property the seller’s disclosures .docx
 
Chapter 15 Condition of property the seller’s disclosures .docx
Chapter 15 Condition of property the seller’s disclosures   .docxChapter 15 Condition of property the seller’s disclosures   .docx
Chapter 15 Condition of property the seller’s disclosures .docx
 
Rider to Contract of Sale: Right of first refusal
Rider to Contract of Sale: Right of first refusal Rider to Contract of Sale: Right of first refusal
Rider to Contract of Sale: Right of first refusal
 
Listing A Property For Sale
Listing A Property For SaleListing A Property For Sale
Listing A Property For Sale
 
Sales Contract Form
Sales Contract FormSales Contract Form
Sales Contract Form
 
Viada 2013 Auto Fraud Symposium
Viada 2013 Auto Fraud SymposiumViada 2013 Auto Fraud Symposium
Viada 2013 Auto Fraud Symposium
 
Auctioneer Lien Law Webinar Series - Lien law 101
Auctioneer Lien Law Webinar Series - Lien law 101Auctioneer Lien Law Webinar Series - Lien law 101
Auctioneer Lien Law Webinar Series - Lien law 101
 

Arizona Affidavit Of Disclosure

  • 1. Using the Affidavit of Disclosure
  • 2.
  • 3.
  • 4.
  • 5. What is an “Unincorporated” area? An unincorporated area is land located outside the corporate limits of a city or town. ( further defined in A.R.S § 9-101) Cave Creek Commercial (Scotts) Phoenix Scottsdale School
  • 6.
  • 7.
  • 8.
  • 9.
  • 10.
  • 11.
  • 12.

Hinweis der Redaktion

  1. Requirements for use of Affidavit Use of the Affidavit of Disclosure is required under Arizona Revised Statute 33-422, enacted on May 18, 2000. It’s intent is the help better manage growth in “unincorporated areas, something that was taking place at a rapid pace in the boom prior to 2006.
  2. Purchase Contract Clauses It’s use is included as a clause in the standard AAR Residential Purchase Contract and in the AAR Vacant Land Purchase Contract . Included as section 4d of AAR Residential Contract Included as section 4h of AAR Vacant Land Contract Both contracts require it to be delivered to Buyer (or Buyers representative) within 5 days of contract acceptance. These clauses contain the following wording: Affidavit of Disclosure : “If the Premises is located in an unincorporated area of the county, and five or fewer parcels of property other than subdivided property are being transferred, the Seller shall deliver a completed Affidavit of Disclosure in the form required by law to the Buyer within five (5) days after Contract acceptance. Buyer shall provide notice of any Affidavit of Disclosure items disapproved within the Inspection Period or five (5) days after receipt of the Affidavit of Disclosure, whichever is later.
  3. What is an unincorporated area? Any area not within the boundaries of an incorporated City, Town or Village. Unincorporated areas typically fall within the jurisdiction of the county which they exist, with regard to zoning laws, flood control, roads and utility services. In this slide, the white area is a true unincorporated AND unsubdivided area. The areas around it in cyan and gray are unsubdivided and have similar zoning rules but are under the jurisdiction of Cave Creek and Phoenix respectively (not unincorporated. The beige area is a subdivided area in Scottsdale. The blue area to the north is zoned commercial and the green area is a school. Be careful, some unincorporated areas may fall under the jurisdiction of a neighboring town makes it likely that the area will be developed under the guidance of that town in the future.
  4. Subdivided vs. Unsubdivided Land that is being divided into 6 or more parcels that are smaller than 36 acres (see below) will be considered as “subdivided” land and will require a public report. Property being divided into 5 or fewer parcels can be “split” and will not require a public report. If this property is in an unincorporated area of the county it will require an Affidavit of Disclosure. Arizona State Law defines “subdivided land” as land divided or proposed to be divided for sale or lease into six or more lots or parcels smaller than thirty-six acres. (A.R.S. §32-2181 et seq.)
  5. Splitting Unsubdivided Parcels A parcel of land that is less than 36 acres can be split by it’s owner into separate parcels. The owner must comply with existing zoning requirements and any split cannot result in an “upzoning” situation (example: if property is zoned Residential 1 home per 5 acres it cannot be changed to 1 home per acre or commercial, etc.). Typically the owner has the property re-surveyed by a licensed surveyor. The new surveys showing the new parcels are recorded with the county. Owner applies for new parcel numbers from the county. If owner wishes to improve parcel they may apply for “accelerated” parcel number. County may assign a new parcel number or add a suffix to the existing parcel number to identify new parcel. Exp: Parcel 211-61-011 - a 5 acre parcel may become, 211-61-011A - a 1.1 acre parcel 211-61-011B - a 1.1 acre parcel 211-61-011C - a 1.1 acre parcel 211-61-011D - a 1.7 acre parcel
  6. Information included in Affidavit The Affidavit of Disclosure contains information describing the following: Legal and Physical access to the property. Keep in mind that the legal access may not be the most direct, best or even most commonly used means of accessing the property. Floodplains, washes etc. should be identified and flood maps investigated. Access to public utilities such as electricity, gas, telephone and internet services. Police, Fire, Ambulance, etc. If property is not readily accessible by emergency vehicles the emergency services providers may not be held liable for delays. Availability of water services or wells. Functionality of septic systems or results of or status of any soil/percolation tests that have been performed. Any zoning deficiencies or non compliances to existing zoning laws. (requiring a variance) Proximity to military installations (noise, presence of dangerous weapons, etc.)
  7. Buyers Responsibilities The Buyer upon receipt of the Affidavit should investigate any items that are material to the purchase and use of the property. In addition to the items we discussed previously concerning emergency services, utilities, legal access, usability of purpose. Some other items that may be investigated include: Any questionable statements. Validate property is appropriate for plan usage. Verify the legality and compliance of any improvements. Investigate future plans for this parcel and adjacent and nearby parcels.
  8. Buyers Receipt of Affidavit and Effects on the Sale By statute, the Seller has until 7 days prior to transfer of property to provide (the AAR contract states 5 days after contract acceptance). The Buyer should acknowledge the receipt of Affidavit and has 5 days after receipt to rescind transaction. Buyer should cancel in writing. If transaction completes, seller must record Affidavit at the same time as the new Deed is recorded with the county. This is usually done by the Title Company as part of the transaction. Note: Since Seller is required to record, make sure the recording fee is listed on the Seller’s side of HUD-1.
  9. How is the Statute Enforced? The statute requiring the use of the Affidavit is enforced as a civil requirement. There is no criminal penalties or mechanism for criminal enforcement for failure to complete or file the Affidavit. Failure to provide the Affidavit or knowingly filing inaccurate information may result in Civil liabilities including damages or rescission of the sale. In addition an agents failure to inform the Seller of their responsibilities could constitute a Breach of Duty. This could result in either the Listing Broker, Buyer Broker or both being held liable for damages that result from failure to disclose.
  10. The author of this course and instructor would like to thank you for your participation . If you enjoyed the course and found it useful, please refer us to you friends and colleagues.