Arizona License LawIntermediateArizona Exam
When an Arizona real estate licensee moves their office to a new location, they must:
AApply for a new license within 10 days of the move
BNotify ADRE of the address change within a reasonable timeCorrect
CRetake the state licensing exam
DObtain approval from the county assessor
Why Notify ADRE of the address change within a reasonable time Is Correct
Answer B: Notify ADRE of the address change within a reasonable time
Arizona licensees and brokers must notify ADRE of any change in office address. Failure to keep contact information current with ADRE is a violation.
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Key Terms to Know
Option Contract
A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
State-Specific Concepts
DRE Regulation
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