In which scenario is an affidavit of disclosure required?

An affidavit of disclosure is a legal document that provides information about the property being sold, ensuring that the buyer is aware of any pertinent details before completing the transaction. In Arizona, the requirement for an affidavit of disclosure applies specifically when a seller is transferring five or fewer parcels of property. This requirement is in place to promote transparency and protect buyers by requiring sellers to disclose important information about the property, such as its condition, any defects, or other significant issues that could impact the buyer’s decision.

When transferring more than five parcels, the law does not mandate an affidavit of disclosure, recognizing that larger transactions may involve different considerations and complexities. Therefore, the correct answer emphasizes that it is specifically the transfer of five or fewer parcels that triggers the need for this important document, ensuring that buyers have the information necessary to make informed decisions about their purchase.