Real Estate Lawyer in Phoenix
If you are buying or selling property from large tracts it is important to be aware of Arizona laws regarding subdivisions. Selling property from a subdivision without government approval is illegal. If you are buying property in a subdivision, you need to be aware that there should be a public report available giving you disclosures about the property. For assistance, you are urged to contact a real estate attorney in Phoenix.
What is a Subdivision?
Under Arizona law, a subdivision is an act of dividing for sale or leasing a parcel of land. It requires state approval when the division is into six or more lots in which one is less than 36 acres. Where this occurs, the subdivider needs to apply to the Arizona Department of Real Estate (ADRE) to inspect the land. If the land is within an Active Management Area as defined by the Arizona Department of Water Resources, it is further required that the subdivider show proof that there is 100 years of assured water supply. Upon this showing the ADRE will prepare a Public Report giving disclosures about the subdivision to prospective buyers. If the water supply is lacking, the subdivision may still go through but the public report will disclose the lack of water supply. Once the public report is released it becomes permissible for the subdivider to sell the lots.
Phoenix Real Estate Attorney
People involved in the sale and purchase of subdivision may get effective assistance from Schern Richardson Finter Decker, PLC, a real estate law team serving the Phoenix area since 2003. We help those involved in subdivisions, whether an individual or large company, comply with state requirements and get the public report done. We also assist buyers in obtaining public reports and advising as to their reliability.