cattle ranch

Question: We are buying a retirement home in an east Scottsdale community. After we received the title report, we were shocked to learn that the “owner” of our retirement home was actually a tenant under a 99-year ground lease for all of the homes in the community. Our real estate agent said that we are…

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propertly lease

Question: We signed a one-year lease for a Scottsdale condominium for $2,800 a month. The lease was from April 1, 2020, to April 1, 2021. Last week we signed a purchase contract to buy a Chandler home. The close of escrow on the Chandler home will be January 31, 2021. We have notified our landlord…

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Real estate purchase contract

Question: We have a small commercial brokerage firm in Phoenix. Common brokerage practice in most commercial brokerage firms is not to state a legal description in the purchase contract. Instead, the address and the parcel number are specified, and an exhibit to the purchase contract says “legal description to be inserted by title company.” The…

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