What is Sale of Personal Property?

If the lien has continued unpaid for twenty days after the charges have accrued, the person holding the property may inform the owner, if the property is located in the same county as the lien, to pay the charges. If the owner does not pay the charges within ten days, the property holder may sell the property at public auction and use the revenues to pay the charges. The remaining proceeds will be paid to the person who is entitled to them (the original owner). If the owner’s domicile is not in the same county as the property, the holder is not required to give the ten-day notice before selling. If the owner can be traced, a five-day notice of sale must be given, and if not, two notices must be published in a county newspaper.

The holder must pay the amount to the county if the person legally entitled to receive the balance is unknown or has moved out of the county. If the party establishes his entitlement to the money to the satisfaction of the county within two years of the date of payment to the department of revenue, the money shall be paid to him. All unclaimed funds must be deposited to a specific fund after two years.

Please read the current statute because the advice above may be out-of-day. A.R.S. §33-1023.

228 words|1.1 min read|Categories: |By |Published On: August 16th, 2022|Last Updated: December 26th, 2023|

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