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Did the Liberty Southwest man ask you to list your properties with him ?
Yes he did.
Hi, Eric, Thank you for your additional information,
I figured that it had to be something like that. Either Mr. Liberty did not know what he was talking about, or wanted to scare you into listing your lots for sale with his real estate office because the section which he referred to, Arizona Revised Statutes Section 32-2101(54), says absolutely nothing of what he was trying to convince you of. That entire section, Arizona Revised Statutes Section 32-2101 is nothing but definitions and subsection 54 specifically states the following,
In this chapter, unless the context otherwise requires:
54. "Stock cooperative" means a corporation to which all of the following apply:
(a) The corporation is formed or used to hold title to improved real property in fee simple or for a term of years.
(b) All or substantially all of the shareholders of the corporation each receive a right of exclusive occupancy in a portion of the real property to which the corporation holds title.
(c) The right of occupancy may only be transferred with the concurrent transfer of the shares of stock in the corporation held by the person having the right of occupancy.
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I looked at the statute and found that what Mr. Liberty quoted was subsection 55. He mislabeled the resource as (54). This is where he said that we were subdividers. as subdividers we were not able to sell the lots individually if we own 6 or more parcels. We do own 6 parcels of 5acres each which we purchased back in the year 2000 as 6 individual parcels. Does this have any validity? I have included the subsection below. Thanks again for your help.
55. "Subdivider" means any person who offers for sale or lease six or more lots, parcels or fractional interests in a subdivision or who causes land to be subdivided into a subdivision for the subdivider or for others, or who undertakes to develop a subdivision, but does not include a public agency or officer authorized by law to create subdivisions.
I had read section 55 when I was researching your question and I interpreted that to mean someone who was actually subdividing the parcels for sale. Apparently, that must be the interpretation given to it by the Maricopa County Assessor's Office which told you that there was no prohibition against selling the parcels. In order to be on the safe side, I would offer less than the 6 parcels for sale at any one time, then if section 55 is applicable, you would not be subject to any penalty because you will be offering less than 6 lots for sale,
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