Arizona Real Estate Law

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Commonly Asked Questions about Arizona Real Estate Law

Can a buyer cancel a real estate contract in Arizona?

A buyer of a home in good faith can cancel the purchase contract during the 10-day inspection period for any reason (e.g., the home doesnt have a good view of Camelback Mountain, the home is too close to a bus stop, the neighbors say that the house is haunted by ghosts, or the buyer decides they dont like the

What is article 26 of the Arizona Constitution?

Article XXVI of the Arizona Constitution is entitled Right of Licensed Real Estate Brokers and Salesmen to Prepare Instruments Incident to Property Transactions. It has only one section.

Who can claim property based on adverse possession in Arizona?

one to acquire title purely by adverse possession, such possession must be actual, open and notorious, hostile, under a claim of right, continuous for the statutory period (here 10 years), and exclusive. Rorebeck v. Criste, 1 Ariz.

What is Article 25 Arizona Constitution?

Section 25. Bills of attainder; ex post facto laws; impairment of contract obligations. No bill of attainder, ex-post-facto law, or law impairing the obligation of a contract, shall ever be enacted.

What are the six features of a legally valid real estate contract in Arizona?

What are the six essential elements for an enforceable real estate contract? In writing, competent parties, mutual assent, legal consideration, lawful object, legal description.

What is Article 26 in real estate in Arizona?

Any person holding a valid license as a real estate broker or a real estate salesman regularly issued by the Arizona State Real Estate Department when acting in such capacity as broker or salesman for the parties, or agent for one of the parties to a sale, exchange, or trade, or the renting and leasing of property,

What are the three sources of Arizona real estate law?

The three sources of Arizona real estate law are the Arizona Administrative Code, the Arizona Revised Statutes, and the Commissioners Rules. 1. Arizona Administrative Code: The Arizona Administrative Code is a compilation of the rules and regulations that have been enacted by various state agencies.