The seller owns a single parcel of vacant land in a subdivision and wishes to sell this parcel.
Is the seller required to utilize the Vacant Land/Lot Purchase Contract Addendum regarding subdivided or un-subdivided Land (the Subdivision Addendum)?
No. The Subdivision Addendum is used to comply with the disclosure requirements of the Subdivision Laws and should be used where the seller has created or owns six or more fractional interests in land. Here, the seller does not own six or more fractional interests in the subdivision. Rather, the seller only owns a single parcel of land in the subdivision. As such, the Subdivision Addendum is not required.
Note: The use of an AAR form by a party to a contract is not “required” in any event.
Arizona REALTOR® Magazine – January 2014 | Disclosure