While reviewing a transaction in Cochise County, a buyer asks whether the statutory affidavit for certain unsubdivided land has its own delivery and cancellation consequences. What is the most accurate response?
Correct Answer
D) 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 a brokerage meeting in Glendale, a seller is transferring five or fewer unsubdivided parcels in an unincorporated area of Coconino County. Which statement should the broker communicate?
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Using the current Arizona SPDS, in a licensing seminar in Tempe, a student says the SPDS and Arizona's statutory Affidavit of Disclosure are interchangeable documents serving the same transactions. Which statement should the broker communicate?