A. A written contract for the sale of a newly constructed dwelling between a buyer of a newly constructed dwelling and the seller responsible for the original construction of the dwelling shall contain, or provide separate notice of, the following provision:

Terms Used In Arizona Laws 12-1365

  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Dwelling: means a single or multifamily unit designed for residential use and common areas and improvements that are owned or maintained by an association or by members of an association. See Arizona Laws 12-1361
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Seller: means any person, firm, partnership, corporation, association or other organization that is engaged in the business of designing, constructing or selling dwellings, including construction professionals. See Arizona Laws 12-1361

Under Arizona Revised Statutes section 32-1155, a buyer of a dwelling has the right to file a written complaint against the homebuilder with the Arizona registrar of contractors within two years after the close of escrow or actual occupancy, whichever occurs first, for the commission of an act in violation of Arizona Revised Statutes section 32-1154, subsection A.

B. The notice required in subsection A of this section shall be prominently displayed and appear in at least ten point bold type.

C. The buyer of the dwelling is not deemed to have received the notice required pursuant to subsection A of this section unless the buyer initials the notice provision.

 

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