An Arizona seller is aware of a leaking underground storage tank (UST) on the property. Under Arizona disclosure law, the seller:
Why Must disclose this known material defect on the Seller's Property Disclosure Statement (SPDS) Is Correct
Answer B: Must disclose this known material defect on the Seller's Property Disclosure Statement (SPDS)
Exam Tip: Environmental
Environmental questions test knowledge of hazards like asbestos, lead-based paint, radon, and mold. Know the disclosure requirements and when a professional inspection is required. CERCLA liability is strict, joint, and several.
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- The Arizona Residential Resale Purchase Contract requires sellers to provide the Seller's Property Disclosure Statement (SPDS) within:Contracts
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Key Terms to Know
Any claim, lien, charge, or liability attached to real property that affects its value or limits its use.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
State-Specific Concepts
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