Wednesday, December 1, 2021 11:35 am

2015 Arizona Legislative Amendments Affecting Real Estate Lending

XGRNational Law Review

A summary of legislative amendments enacted during the most recent session (the First Regular Session) of the 52nd Arizona Legislature that (to varying degrees) affect real estate and real estate lending. The general effective date of all legislation enacted during the session is July 3, 2015. The text of these amendments can be found on the Arizona Legislature’s Website.

Construction Defect Dwelling Actions

Arizona law gives a seller the opportunity to repair or replace any alleged construction defects. A purchaser was previously required to notify the seller by certified mail at least 90 days before filing a dwelling action, specifying in reasonable detail the basis of the dwelling action. After the seller received notice, the seller was permitted to inspect the dwelling to determine the nature and cause of the alleged defects and the nature and extent of any repairs or replacements needed to remedy the defects.

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