Bill > SB1450

This bill modifies Arizona law regarding construction defect claims, particularly for condominiums, by adjusting statutes of limitations and introducing new procedural requirements. It shortens the general timeframe for bringing contract-based actions related to real property improvements from eight years to five years after substantial completion, specifically for properties regulated under Title 33, Chapter 9 (which pertains to condominiums). The bill also introduces a new process for condominium associations, requiring a vote of at least two-thirds of unit owners before the association can initiate, defend, or intervene in litigation concerning construction defects, and mandates specific disclosures to unit owners before such a vote. Additionally, it establishes a detailed notice and remedy offer process for purchasers of real property regulated under Title 33, Chapter 9, requiring purchasers to provide specific information about alleged defects and maintenance records, and giving sellers an opportunity to inspect and offer repairs or compensation before a lawsuit can be filed, with specific timelines and consequences for non-compliance. The bill also clarifies definitions related to construction defects and professionals and adjusts the statute of limitations for filing complaints with the registrar of contractors for new home builds and other construction projects, creating a five-year limit for properties regulated under Title 33, Chapter 9.

https://apps.azleg.gov/BillStatus/BillOverview/85034