Arizona Revised Statutes Title 44. Trade and Commerce § 44-502. Unlawful practices; listing services timeline; void agreement

1. Last longer than twelve months after the date that the agreement is executed by the parties.

2. Be a covenant that runs with the land.

3. Bind a future owner of an interest in the residential real estate that is the subject of the exclusive property engagement agreement unless the future owner acquires an interest in the residential real estate after listing services have begun and a broker as defined in § 32-2101 has a ready, willing and able purchaser for the residential real estate.

4. Be recorded in the office of a county recorder.

5. Authorize a person to place a security interest or lien against or otherwise encumber any residential real estate or to constitute a lien, an encumbrance or a security interest in the residential real estate.

6. Allow for the assignment of the exclusive property engagement agreement or the obligation to provide the underlying services without notice to, and agreement by, the owner of the residential real estate that is the subject of the exclusive property engagement agreement.

7. Fail to meet the requirements prescribed in § 32-2151.02.