This bill proposes several updates to the current statutes regarding property sales in Arizona. It modifies the requirements for sellers of five or fewer parcels of land by clarifying that any subsequent seller must also complete and furnish a written affidavit of disclosure to the buyer. The bill introduces the role of licensed escrow agents, who may record the affidavit on behalf of the seller, and specifies that they are not liable for inaccuracies in the affidavit. Additionally, it adds new requirements for disclosing information about private wells and on-site wastewater treatment facilities, including inspection dates and maintenance responsibilities.

Furthermore, the bill removes outdated language and adds new provisions that exempt certain sellers, such as those involved in trustee's sales or estate sales, from providing the affidavit. It also emphasizes the need for buyers to investigate unknown items related to the property. The bill aims to enhance transparency in property transactions while ensuring that buyers are adequately informed about the condition and legal status of the property they are purchasing.

Statutes affected:
Introduced Version: 33-422