Arizona Real Estate License Practice Exam

An Affidavit of Value is a crucial document used in real estate transactions, particularly in Arizona, to provide a formal declaration of the property's sales price and essential details about the transaction. The requirement for the affidavit to include the grantor's name and signature ensures that the seller is formally acknowledging the sale and its terms. Likewise, including the grantee's name and signature helps to establish the identity of the buyer involved in the transaction, ensuring that both parties are documented.

Importantly, the sales price of the property is a fundamental component of the affidavit, as it serves to inform the county's assessor's office for taxation purposes and facilitates transparency in the real estate market. All of these elements must be present to create a complete and valid Affidavit of Value, which provides vital information for record-keeping and can also affect property taxes. Therefore, all these components are necessary, making the answer that encompasses them all the most accurate.