In a Queen Creek transaction review, a buyer asks whether the statutory affidavit for certain unsubdivided land has its own delivery and cancellation consequences. What should the parties assume under current Arizona rules?
Correct Answer
B) the affidavit has its own statutory timing and rescission structure, which is distinct from ordinary SPDS or contract review periods
Under A.R.S. § 33-422, the affidavit has its own statutory timing and rescission structure, which is distinct from ordinary SPDS or contract review periods.
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Previous Question
At Saguaro River Realty in Tempe, a seller is transferring five or fewer unsubdivided parcels in an unincorporated area of Cochise County. What should the parties assume under current Arizona rules?
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Using the current Arizona SPDS, at a brokerage meeting in Peoria, a student says the SPDS and Arizona's statutory Affidavit of Disclosure are interchangeable documents serving the same transactions. What should the parties assume under current Arizona rules?