Title 33 - Property

Chapter 9, Condominiums, Sec. 33-1201-33-1270

Termination of contracts and leases of declarant; applicability

Article 3, Management of the Condominium, § 33-1245

Source: Arizona Revised Statutes

  1. A contract for any of the following, if entered into before the board of directors elected by the unit owners pursuant to section 33-1243, subsection G takes office, shall contain a provision in the contract that the contract may be terminated without penalty by the association at any time after the board of directors elected by the unit owners takes office:
    1. Any management contract or employment contract.
    2. Any other contract or lease between the association and a declarant or an affiliate of a declarant.
    3. Any contract or lease that is not bona fide or was unconscionable to the unit owners at the time entered into under the circumstances then prevailing.
  2. The board of directors shall notify the appropriate contractual party of the termination at least thirty days before termination.
  3. This section does not apply to any lease if the termination of the lease would terminate the condominium or reduce its size.
  4. If a contract covered by this section fails to contain the provisions required by subsection A of this section, the contract is voidable at the option of the association.
  5. This section does not apply to timeshare plans or associations that are subject to chapter 20 of this title.

Also in: Chapter 9, Sec. 33-1201-33-1270

View all Arizona Condominium Act statutes.

Source: This content is sourced from the online version of the Arizona Revised Statutes located at www.azleg.gov.

Disclaimer: These statutes are provided as a courtesy by CHDB Law LLP. CHDB Law cannot guarantee that the statutes set forth on the website or in our published guide will not be found to be defective by a court or other tribunal after the date the books or online material are published. The HOA Knowledge Base does not attempt to include every statute that could apply to a community association issue. There may be other statutes or applicable laws that have a bearing on a particular legal issue confronted by a community association. These statutes are provided as a reference only. If a particular legal issue is confronted by a community association, the association should seek legal advice from competent attorneys.

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