Land Use & Zoning
A developer in Arizona cannot sell or accept a deposit on a lot in a new subdivision before the ADRE Public Report is issued. A buyer who signs a purchase contract before receiving the Public Report may:
ABe held to the contract with no right to cancel
BRescind the contract within a reasonable time after receiving the Public Report✓ Correct
CRescind the contract only if the lot is more than 5 acres
DFile a complaint with the county assessor
Explanation
Arizona law gives buyers who have not received an ADRE Public Report a right to rescind the purchase contract within a specified period after receiving the report. The Public Report must be provided before the buyer is bound.
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