FACTS:

The seller owns a single parcel of vacant land in a subdivision and wishes to sell this parcel.

ISSUE:  

Is the seller required to utilize the Vacant Land/Lot Purchase Contract Addendum regarding subdivided or un-subdivided Land (the Subdivision Addendum)?

ANSWER:  

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


About the Author

Michelle Lind

K. Michelle Lind, CEO of Arizona REALTORS®, is also an attorney, State Bar of Arizona board certified real estate specialist, and the author of Arizona Real Estate: A Professional’s Guide to Law and Practice.
Please note that this article is of a general nature and may not be updated or revised for accuracy as statutory or case law changes following the date of first publication. Further, this article reflects only the opinion of the author, is not intended as definitive legal advice and you should not act upon it without seeking independent legal counsel.