AZ Real Estate Agent question (broker, closing, professionals)

[caryberry]

I know that there are several members of this forum that are either licensed real estate professionals or just really smart about AZ real estate. I am hopeful that someone can answer this...

Is there a rule in AZ for licensed real estate persons that require the licensee to notify the licensing board if they become a party to litigation? I could swear that I read that there was a 30 day (?) policy of disclosure to the Real Estate Board.

Any info on this? Thanks in advance.

[rjrcm]

I am not aware of any such rule if you are only a party to litigation, at least until and unless you receive an adverse outcome. Not to say there may not be such a rule. You should contact the AZ Dept of RE to be sure.

From Arizona Administrative Code:

D. A salesperson or broker shall notify the Department in writing within 10 days of any change in the individual's personal information or qualifications. The salesperson or broker shall include in the notice the individual's name, signature, license number, and:
1. If disclosing information required under R4-28-301, such as a criminal conviction, adverse judgment, denial or restriction of or disciplinary action against a professional or occupational license, or recovery fund payment on the person's behalf, a written statement providing detailed information and, upon request by the Department, the supporting documentation identified in R4-28-301(A)(2);

[Captain Bill]

rjrcm is correct. There is no such rule.

[Steve Pickering]

Not during litigation, but litigation can produce results that would require the reporting to the board of the outcome.

[SedonaKathy]

The REALTOR boards and associations are for REALTOR members only. The Arizona Department of Real Estate is the State regulatory agency that regulates every licensee. Either can take complaints, but the Boards and Associations only monitor and discipline their membership. Not all licensees are REALTORS but all REALTORS are licensees.

[S. Chris Webb]

Just concurring with the other agents. From the Department of Real Estate License FAQ's:

"A written disclosure of a criminal conviction, or an adverse judgment or disciplinary action against a professional license must be submitted to the Department in writing within 10 business days of the conviction, with required documentation (download and review the Disciplinary Actions Disclosure (LI-214/LI-244) and the Disclosure Document Checklist (LI-400)). Arrests need not be reported."

[caryberry]

Thanks to all who chimed in with right stuff! Special shout-out to S. Chris Webb for the links!

Thanks again!