ADRE Model Broker Policy Manual-Disclosure Policy and Documents

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Disclosure Policy and Documents

Affidavit of Disclosure

This section, for transactions involving (five) 5 or fewer parcels located in an unincorporated area, should include the use of the Affidavit of Disclosure:

land33-422. Land divisions; recording; disclosure affidavit

A. A seller of five or fewer parcels of land, other than subdivided land, in an unincorporated area of a county and any subsequent seller of such a parcel shall furnish a written affidavit of disclosure to the buyer, at least seven days before the transfer of the property, and the buyer shall acknowledge receipt of the affidavit.

B. The affidavit must be written in twelve point type.

C. No release or waiver of a seller’s liability arising out of any omission or misrepresentation contained in an affidavit of disclosure is valid or binding on the buyer.

D. The buyer has the right to rescind the sales transaction for a period of five days after the affidavit of disclosure is furnished to the buyer.

E. The seller shall record the executed affidavit of disclosure at the same time that the deed is recorded. The county recorder is not required to verify the accuracy of any statement in the affidavit of disclosure. A subsequently recorded affidavit supersedes any previous affidavit.

F. The affidavit of disclosure shall meet the requirements of section 11-480 and follow substantially the following form (click here)

Quick Quiz

Fill in the Blank:
The has the right to rescind the sales transaction for a period of five days after the affidavit of disclosure is to the buyer.

Agency Forms

This section should include:

  • Whether, and under what circumstances, an agency form, dual agency form, limited representation agreement, or buyer’s broker agreement shall be used.

    Airport Disclosure

This section should include:

  • The Seller is required to inform the buyer that a property is within the area of a military or other airports.

download28-8483. Registry of military airport flight operations; public inspection

The state real estate department and political subdivisions that have territory in the vicinity of a military airport shall request from each military airport in this state a registry of information including maps of military flight operations and a list of contact persons at each military airport who are knowledgeable about the impacts of military flight operations at the military airport. Each registry shall contain the information provided by the military airport, including any map prepared pursuant to section 28-8484, subsection B. The state real estate department and political subdivisions shall maintain the registry of information provided by the military airport and make the registry available to the public on request.

Quick Quiz

Fill in the Blank:
The is required to inform the buyer that a property is within the area of a military or other .

28-8484. Military airport disclosure; residential property

A. Any public report issued after December 31, 2001, according to section 32-2183 or 32-2195.03 applicable to property that is located within the territory in the vicinity of a military airport shall include the following statements:

1. That the property is located within a territory in the vicinity of a military airport.

2. If the state real estate department has been provided the registry of information described in section 28-8483, that the state real estate department maintains a registry of information, including the maps of military flight operations provided by the military airport, pursuant to section 28-8483 and, if provided to the department, the map prepared by the military airport pursuant to subsection B of this section.

3. If the state real estate department has been provided the registry of information described in section 28-8483, that the information is available to the public on request.

B. Each military airport may provide the state real estate department and each political subdivision with territory in the vicinity of the military airport with a map that is in electronic form and that is eight and one-half inches by eleven inches in size showing the exterior boundaries of each territory in the vicinity of a military airport and the exterior boundaries of each high noise or accident potential zone. The state real estate department shall work closely with each military airport and political subdivisions with territory in the vicinity of a military airport as necessary to create a map that is visually useful in determining whether property is located in or outside of a territory in the vicinity of a military airport or in or outside of a high noise or accident potential zone. If there are changes to the map, the military airport shall notify the state real estate department and political subdivisions of the changes and shall provide a new map in electronic form. If a new map is provided, the department and the political subdivisions shall include the map in the registry of information maintained under section 28-8483. The map shall be included in public reports issued according to section 32-2183 or 32-2195.03, and the map shall be available to the public on request.

C. For any lot reservation or conditional sale that occurs before the issuance of a public report, the disclosure statements listed in subsection A of this section shall be included in the reservation document or conditional sales contract.

D. This section does not require the amendment or issuance of any public report issued on or before December 31, 2001, or the amendment or issuance of any reservation document or conditional sales contract accepted on or before December 31, 2001.

Quick Quiz

Fill in the Blank:
For any lot or conditional sale that occurs before the issuance of a public report, the disclosure statements listed in A of this section shall be included within the reservation document or conditional sales .

E. From and after December 31, 2006, a seller of residential real estate shall provide a written disclosure to the purchaser if the property is located in territory in the vicinity of a military airport or ancillary military facility as delineated on a map prepared by the state land department pursuant to section 37-102 prior to the transfer of title. This subsection does not require additional disclosure by a seller of a residential real estate that has already provided the disclosure in a public report pursuant to section 32-2183 or 32-2195.05.

  • Public airport disclosure requirements for property in the “territory in the vicinity of a public airport” A.R.S. § 28-8486.
  • Maps depicting noise level contours and airport traffic airspace.

Buyer Advisory

This section should include whether, or under what circumstances, Sales Associates should use the ADRE “Buyer Advisory

City Ordinance Compliance

This section should include:

  • What forms does the Company require to be carried by Sales Associates, i.e., Surprise – city map showing military airport.
  • What are the consequences if the Sales Associate is cited.

Dangerous Drug Lab Disclosure

  • A licensee may not face criminal, civil or administrative sanctions for failing to disclose the property sold or leased was: the site of a death or a felony, occupied by a person exposed to a disease that is not known to be transmitted through common occupancy, or located near a sex offender, pursuant to A.R.S. § 32-2156; however
  • A licensee must disclose if the property is or was the site of a Dangerous Drug Lab pursuant to A.R.S. § 12-1000.
Quick Quiz

Fill in the Blank:
A may not face criminal, civil or administrative sanctions for failing to disclose the property sold or  .

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