In a voluntary transfer of real property in Arizona, which document is the guiding one?

In a voluntary transfer of real property in Arizona, the purchase contract serves as the guiding document because it outlines the critical terms and conditions agreed upon by the buyer and seller. This agreement stipulates the specifics of the sale, including the purchase price, property details, contingencies, and any obligations required by each party.

The purchase contract is essential as it binds both parties to their commitments and provides a framework for the transaction. It ensures that all aspects of the sale are clearly defined and helps avoid misunderstandings or disputes during the transfer process. While other documents, such as the listing contract, seller disclosure, and financing addendum, play important roles in the real estate transaction, they serve more as supplementary or ancillary documents rather than the primary agreement governing the transfer of property. The purchase contract is integral in establishing the legal foundation for the entire transaction in Arizona real estate dealings.