Arizona Subdivision law Selling and Leasing

Question 1

Improved Lot or Parcel

Answer 1

A lot or parcel featuring a residential commercial, or industrial building. Also considered improved if there is a contract to build within 2 years

Question 2

Interstate

Answer 2

Existing or carried between states

Question 3

Interstate Land Sales Full Disclosure Act

Answer 3

Regulates the sale or lease when developers of 25 or more unimproved lots in a subdivision sell or lease to citizens of another state as part of a Common Promotional Plan

Question 4

Lot Reservation

Answer 4

An expression of interest by a prospective purchaser in buying a subdivided or unsubdivided lot, unit, or parcel

Question 5

Marketing Requirement

Answer 5

Within 10 days after request of Commissioner submit a copy of advertising

Question 6

One of these three procedures must be used in sale of unimproved parcels…

Answer 6

Seller financing, escrow agent, trustee