Search for Arizona real estate law tips in Arizona Home Sale News
Archive of Arizona real estate law columns from Arizona real estate attorney, Christopher A. Combs
• Partition Action Required to Settle Inheritance Dispute (06/03/06)
• Deed of Trust Recommended for Loan Secured by Real Property (05/27/06)
• Costs Unrecoverable on Seller Carryback Foreclosure (05/20/06)
• Seller not obligated to bring premises into compliance with swimming poor barrier laws (May 2006)
• Consent By Joint Tenant Not Needed to Convey Property (05/06/06)
• 1031 Tax Deferred Exchange Not Suggested for Sale of Out-Of-State Property. (04/29/06)
• Purpose of Property Contingent on Financing, Not Down Payment (04/22/06)
• Enforcement of Easement Rights Available with Court Intervention (04/15/06)
• No reason to cancel contract
because of divorce (April 2006)
• Homebuilders’ New Home Lotteries Not Considered Illegal Gambling (04/01/06)
• Cancellation Only Available During Inspection Period on "As Is" Sale (03/25/06)
• The Pros and Cons of Binding Arbitration (03/18/06)
• Partial Residency Required for Capital Gains Tax Exemption (03/11/06)
• Options To Transfer Property Upon Death (03/04/06)
• Disturbing Heat Pump Could Be Considered a Nuisance (02/25/06)
• Appraisal must be satisfactory to the lender (Jan 2006)
• Two Months’ Rent Unrecoverable After Settlement With Landlord (02/11/06)
• CC&Rs Restrict "Use" of Toy Basketball Hoop (02/04/06)
• Recourse Available For Defective Construction of New Home (01/28/06)
• Transfer Title Into Husband's Name To Avoid Probate (01/21/06)
• New Homeowner Has No Liability for Payment of Outstanding Property Debt (01/14/06)
• Federal Law Protects Adult Care Facilities (01/07/06)
• Title Company Can Assist With Transfer of Title (12/31/05)
• Security Deposit Should Be Returned if No Breach of Lease (12/24/05)
• Explanation of Capital Gains Taxes and Mutual Consent Required to Cancel Listing Agreement (12/03/05)
• Seller Cannot "Back Out" or Cancel Purchase Contract (12/10/05)
• Buyer Can Cancel after Inspection (Nov 2005)
• Eminent Domain Allows Municipality Use of Privately Owned Property (11/26/05)
• Claims for Non-Disclosure Potentially Waived by Failing to Inspect Property Prior to Closing (11/19/05)
• Deed Instruments Used to Transfer Real Property in Arizona (11/12/05)
• Remedy and Recourse for Tree Disputes Between Neighbors (11/05/05)
• "Poor Man's Lis Pendens" Must be Removed Prior to Sale of Property to New Buyer (10/29/05)
• Problems with Jointly Owned Property
• Beneficiary Deed Suggested to Avoid Probate of
Property
• Both Signatures Required to Sell Community Property
with Right of Survivorship Property
• Seller Can't Refuse to Perform
• Homeowners Can Amend CC&Rs to Prohibit Residency
to Registered Sex Offenders
• Only Environmental Hazards Must be Disclosed in
Home that Manufactures and Possesses Drugs
• Disclosure of Sales Price Required by Law
• Adverse possession after ten years by “tacking”
of prior owners
• Homebuilder Not Required to Reserve Lot or Enter
Into a Conditional Purchase Contract Before Issuance of Public Report
• Inheritance of Land Recommended Over Inheritance
of Money
• Title Company Can Assist With the Transfer of
Title Out of Joint Tenancy, After Death of Spouse
• Methamphetamine drug bust during escrow must be
disclosed
• Buyer has right to assign contract unless specifically
prohibited in the contract
• CC&Rs restricting ownership by registered sex
offenders probably enforceable
• Mortgage Loan Prepayment Penalties Legal and Enforceable
• No Tax Liability for Monetary Gift to Son
• Mediation Required for Earnest Money Dispute
• Quit Claim Deed is Sufficient to Transfer Property
into Trust
• Husband and wife must sign personal guarantee
• Mutual Agreement to Sell Property is Required
for Tenants-in-Common
• Due on Sale Clause Not Applicable with Transfers
of Real Property to Children
• Handwritten language controls over boilerplate
language
• Mediation Required for Earnest Money Dispute
• Consent from Mortgage Lender is Required for Removal
of Name from Mortgage Loan
• Arizona Property Can be Transferred Into Out-of-State
Revocable Living Trust
• Listing Daughter to Title of Real Property Not
Recommended
• No Recourse Available for Raised HOA Dues
• Golfers not Liable for Personal or Property Damage
Caused to Golf Course Residents
• Monthly Private Mortgage Insurance Payment is
Not Tax-Deductible
• Failure to deliver conditional loan approval
is not a material breach
• Warranty Deed Suggested for the Transfer of
Real Property into Marital Community
• Anti-speculation clauses can be recorded
• Builder Warranties and Home Inspection Prior
to Warranty Expiration
• Amendment to the contract must be signed by
all parties to the contract
• Private Mortgage Insurance Removal Requirements
• After disclosure the buyer required to investigate
• “Beautiful View” Unprotected if Home Construction
in Compliance with Local Community Regulations
• Buyer did not qualify for financing because
of condition of the home
• LLC Formation for Rental Properties Recommended
• Buyer has right to request replacement of air
conditioning unit
• Disclaimer Deed Needed from Spouse
• Buyer has until close of escrow to satisfy financing
contingency
• No Permission or Reimbursement Required for
Maintenance of Encroaching Neighbor’s Orange Tree
• Removal of seller from home after closing
• Estate Planning Options for Sibling Relatives
• Buyer can assign equitable interest in contract
unless expressly prohibited
• Criminal Abatement Must be Disclosed if Property
Value Affected
• No right to inspect after expiration
• Golfer Liability for Danger
• Seller’s response can be proposed amendment
to the contract
• CC&R Prohibition on Large Dogs
• Seller and buyer can amend to eliminate warranted
items
• Difficult Neighbor Should be Disclosed
• Rentals on weekly basis are subject to Landlord-Tenant
Act
• Neighbor is Responsible for Watering Damage
• Buyer waives any repairs by only requesting
a reduction in price in lieu of repairs
• Forged Signature on Deed
• Contract does not require a specific closing
date
• Considering "FSBO"
• Girlfriend’s Rights in Home
• Additional time to cancel after buyer receives
HOA rules and regulations
• Holding Title with Right of Survivorship
• Homebuilder Can Prohibit Independent Home Inspector
• Seller hospitalized at the time of closing
• Seller and subcontractors liable for faulty
work
• Home builder can prohibit investor buyers
• Seller not required to purchase garage door
openers
• Listing of home built by unlicensed contractor
• No right to cancel after inspection period
because of crime
• Death of seller does not excuse breach of
contract
• Address is a material fact requiring disclosure
• No requirement to inspect before purchase
of home
• Seller not required to make FHA repairs
• Reasonable disapproval based on size of home
• Buyer entitled to the earnest money if fails
to qualify for financing
• Alcohol rehabilitation group home is protected
from disclosure
• Contingency of financing until closing
• CC&Rs can prohibit all "for sale"
signs
• Listing broker must present verbal offers
• Seller must repair warranted item even if
seller refused in buyer’s request for repairs
• Buyer and seller cannot agree to fraudulent
sales price
• Acceptance by two buyers of multiple counteroffers
by Seller
• Buyer has responsibility for swimming pool
barrier
• Failure to deliver possession at time of closing
• Disclosure not required for possession of
drugs in the home
• No cancellation by Seller after promise to
extend
• Home can be sold even though addition to home
built without permit
|
