A seller takes back a purchase money deed of trust in a real property sale. What is the best conclusion under Arizona loan originator law or AZDIFI guidance?
Correct Answer
A) Arizona exempts own-residence activity, purchase-money sellers of real property, and immediate-family negotiations when the person does not otherwise engage in loan originator business.
Arizona exempts own-residence activity, purchase-money sellers of real property, and immediate-family negotiations when the person does not otherwise engage in loan originator business. Arizona exemptions include an individual negotiating terms for a dwelling that served as the individual's residence, a purchase-money seller of real property, and an immediate-family negotiation scenario when the person does not otherwise engage in loan originator business.
Why This Is the Correct Answer
Arizona exempts own-residence activity, purchase-money sellers of real property, and immediate-family negotiations when the person does not otherwise engage in loan originator business. Arizona exemptions include an individual negotiating terms for a dwelling that served as the individual's residence, a purchase-money seller of real property, and an immediate-family negotiation scenario when the person does not otherwise engage in loan originator business.
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