Plain English Breakdown
The exact consequences for failing to provide notice are not specified in the provided material.
Technical Correction for Seller's Disclosure
This bill amends a law requiring sellers of property that has been cleaned up due to harmful substances to inform buyers about the cleanup if they know it happened.
What This Bill Does
- Amends Arizona Revised Statutes section 33-434.01 to clarify when owners must disclose soil remediation to potential buyers.
- Requires written notice from sellers to buyers if the seller knows that the property has been subject to soil remediation under specific conditions.
- Exempts sellers from providing written notice if the cleaned-up land meets safety standards for residential use.
Who It Names or Affects
- People who own and sell properties in Arizona
- Buyers of properties in Arizona
Terms To Know
- soil remediation
- Cleaning up soil that has harmful substances in it.
- residential use
- Using land for homes or places where people live, work, or go to school regularly.
Limits and Unknowns
- The bill only changes one specific part of Arizona's laws.
- It does not specify the consequences if a seller fails to provide required notice.