Arizona § 33-1245 - Termination of contracts and leases of declarant; applicability
Full text of Arizona Arizona Revised Statutes § 33-1245 — Termination of contracts and leases of declarant; applicability, with citation guidance and answers to common questions.
§ 33-1245. Termination of contracts and leases of declarant; applicability
A. 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.
B. The board of directors shall notify the appropriate contractual party of the termination at least thirty days before termination.
C. This section does not apply to any lease if the termination of the lease would terminate the condominium or reduce its size.
D. 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.
E. This section does not apply to timeshare plans or associations that are subject to chapter 20 of this title.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 33-1245
What does Arizona Revised Statutes § 33-1245 cover?
Section 33-1245 ("Termination of contracts and leases of declarant; applicability") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 33-1245?
A common citation format is "Arizona Revised Statutes § 33-1245" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 33-1245 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.