Arizona · A.R.S.Arizona real estate closing laws: a checklist for transaction coordinators

Arizona's rules for a home sale come from several titles of the Arizona Revised Statutes. In the order a transaction meets them: in an HOA or condominium, the resale disclosure packet is delivered within 10 days after the offer is accepted, with a $400 aggregate fee cap, a $100 rush fee and a $50 update fee, collected only at close of escrow (§§33-1806, 33-1260). For land in an unincorporated area, the seller furnishes the affidavit of disclosure at least 7 days before transfer, the buyer has 5 days to rescind, and it's recorded with the deed (§33-422). A death, suicide, homicide or felony on the property, or an occupant's HIV/AIDS, isn't grounds for liability or rescission (§32-2156). If the seller or buyer is married, community real property needs both spouses: a conveyance or encumbrance isn't valid without both signatures and acknowledgments (§§25-214, 33-452). At recording, every deed and contract for sale carries an affidavit of value signed by the buyer and seller or their agents – the recorder refuses it otherwise unless an exemption is noted (§§11-1133, 11-1134). After a death, a beneficiary deed recorded before the owner died passes the home to the named beneficiaries, subject to liens (§33-405). For rentals, whoever holds the landlord's interest when a tenancy ends is bound by the deposit rules – a 1½-month cap and a 14-business-day refund with an itemized list (§33-1321).