The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
11-965 - Expenses incidental to transfer of property
11-965. Expenses incidental to transfer of property
A. In addition to the payments authorized by sections 11-963 and 11-964, the acquiring agency as a part of the cost of the project, after the date of payment of the purchase price or the date of deposit in court of funds to satisfy the award or compensation in a condemnation proceeding to acquire real property, whichever is the earlier, shall reimburse the owner to the extent it deems fair and reasonable for expenses he necessarily incurred for:
1. Recording fees, transfer taxes and similar expenses incidental to conveying such real property.
2. Penalty costs for prepayment of any preexisting recorded mortgage entered into in good faith encumbering such real property.
B. In addition to the reimbursements authorized by subsection A of this section, the acquiring agency shall reimburse the owner for paid real property taxes in excess of the owner's pro rata portion allocable to a period subsequent to the date of vesting of title in the acquiring agency or the effective date of the possession of such real property by the acquiring agency, whichever is earlier.