11-965. Expenses incidental to transfer of property
178 words·~1 min read·
/az/title-11/11-965A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. In addition to the payments authorized by sections 11-963 and 11-964, the acquiring agency as a part of the cost of the project, after the date of payment of the purchase price or the date of deposit in court of funds to satisfy the award or compensation in a condemnation proceeding to acquire real property, whichever is the earlier, shall reimburse the owner to the extent it deems fair and reasonable for expenses he necessarily incurred for:
1. Recording fees, transfer taxes and similar expenses incidental to conveying such real property.
2. Penalty costs for prepayment of any preexisting recorded mortgage entered into in good faith encumbering such real property.
B. In addition to the reimbursements authorized by subsection A of this section, the acquiring agency shall reimburse the owner for paid real property taxes in excess of the owner's pro rata portion allocable to a period subsequent to the date of vesting of title in the acquiring agency or the effective date of the possession of such real property by the acquiring agency, whichever is earlier.