Which type of document is NOT allowed for an Arizona real estate licensee to prepare?

In Arizona, real estate licensees are generally permitted to prepare various types of documents related to real estate transactions, but there are specific limitations on certain documents. A bill of sale is typically associated with the transfer of personal property rather than real estate. Since it does not pertain directly to real estate transactions and is closely tied to personal property, the preparation of a bill of sale is outside the scope of practice for a real estate licensee in Arizona.

On the other hand, escrow instructions, purchase agreements, and lease agreements are all directly related to the sale, transfer, or rental of real estate and can be prepared by real estate licensees. These documents are essential in formalizing the terms and conditions of real estate transactions, thereby falling within the licensee's professional responsibilities and capabilities. Understanding this distinction is crucial for real estate professionals to ensure compliance with Arizona laws and regulations governing their practice.