Terms Used In Arizona Laws > Title 32 > Chapter 20 > Article 3.1 - Property Management

• Broker: when used without modification, means a person who is licensed as a broker under this chapter or who is required to be licensed as a broker under this chapter. See Arizona Laws 32-2101
• Commissioner: means the state real estate commissioner. See Arizona Laws 32-2101
• Compensation: means any fee, commission, salary, monies or other valuable consideration for services rendered or to be rendered as well as the promise of consideration whether contingent or not. See Arizona Laws 32-2101
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the state real estate department. See Arizona Laws 32-2101
• Designated broker: means a natural person who is licensed as a broker under this chapter and who is either:

  (a) Designated to act on behalf of an employing real estate, cemetery or membership camping entity. See Arizona Laws 32-2101

• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• lease: includes every disposition, transfer, option or offer or attempt to dispose of or transfer real property, or an interest, use or estate in the real property, including offering the property as a prize or gift if a monetary charge or consideration for whatever purpose is required. See Arizona Laws 32-2101
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• leasing: includes any lease, whether it is the sole, the principal or any incidental part of a transaction. See Arizona Laws 32-2101
• License: means the whole or part of any agency permit, certificate, approval, registration, public report, charter or similar form of permission required by this chapter. See Arizona Laws 32-2101
• Licensee: means a person to whom a license for the current license period has been granted under any provision of this chapter, and, for the purposes of section 32-2153, subsection A, includes original license applicants. See Arizona Laws 32-2101
• Member: means a member of the real estate advisory board. See Arizona Laws 32-2101
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means any individual, corporation, partnership or company and any other form of multiple organization for carrying on business, foreign or domestic. See Arizona Laws 32-2101
• Property: includes both real and personal property. See Arizona Laws 1-215
• Property management firm: means any corporation, partnership or limited liability company licensed pursuant to section 32-2125, subsection A or a designated broker that by written agreement, manages rental property or properties for compensation. See Arizona Laws 32-2171
• Real estate: includes leasehold-interests and any estates in land as defined in Title 33, Chapter 2, articles 1 and 2, regardless of whether located in this state. See Arizona Laws 32-2101
• Rental agreement: means a lease or leasing agreement. See Arizona Laws 32-2171
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Writing: includes printing. See Arizona Laws 1-215