IMPORTANT: This firm makes NO representations as to the accuracy or current status of any law, case, article or publication cited herein or linked to.
Please Note:
The information in this web site is not intended to constitute legal advice or to create an attorney-client relationship. It is also important to note that the information contained in this page or article may be outdated.
It is very important that you obtain legal advice from an attorney experienced in the laws related to your particular situation. Never rely on information obtained from the Internet, your friends or neighbors; it is very rare that their situation is exactly like yours. Seeking legal advice before you take action will certainly cost you less than it will cost to fix your unintentional errors.
REAL ESTATE FAQs
1. Deficiency Flow Chart, Diane L. Drain
2. Laws governing Arizona real property
3. Who licenses realtors and brokers?
4. Who licenses title companies and loan servicers?
5. What are beneficiary Deeds? By Susan M. Ciupak and Joshua Forest
6. When buying a home who pays what? A Guide to Closing Costs
7. Sue on the Note or Foreclose on the Property – What is the difference?, by Stephanie Wilson
8. Taxes and foreclosure, short sales or sales under Deed of Trust, by Bob Ciancola
CAN A CREDITOR FORCE ME TO SELL MY HOME?
In Arizona it depends: unless the lien is a result of a deficiency action against the real property. ARS Section 33-964 (B). A recorded judgment shall not become a lien upon any homestead property. Any person entitled to a homestead on real property as provided by law holds the homestead property free and clear of the judgment lien.
But see, ARS 33-1105. Sale by judgment creditor of property subject to homestead exemption: A judgment creditor other than a mortgagee or beneficiary under a trust deed may elect to sell by judicial sale as specified in title 12 the property in which the judgment debtor has a homestead under section 33-1101, subsection A, provided that the judgment debtor’s interest in the property shall exceed the sum of the judgment debtor’s homestead plus the amount of any consensual liens on the property having priority to the judgment. A bid shall not be accepted by the officer in charge of a sale under this section which does not exceed the amount of the judgment debtor’s homestead plus the amount of any consensual liens on the property having a priority to the judgment plus the costs of the sale allowable under title 12. After receipt of a sufficient bid, the officer shall sell the property. From the proceeds, the officer shall first pay the amount of the homestead to the judgment debtor plus the amount of any consensual liens on the property having a priority to the judgment and then pay the costs of the sale. The remaining proceeds shall be applied in accordance with the provisions of ARS section 12-1562, subsection A. If the sale does not occur, either because of voluntary abandonment by the judgment creditor or because no sufficient bid is made, the judgment creditor may not charge any costs or attorney fees incurred in connection with the sale against the judgment debtor by addition to the judgment or otherwise.
See also: Evans v. Young, 135 Ariz. 447, 661 P.2d 1148 (Ariz.App.1983)(held that foreclosure is available to a judgment creditor who wishes to subject judgment debtor’s homestead property to execution and forced sale, but judgment creditor must first satisfy statutory appraisal procedures, and value of homestead property must exceed value of homestead exception over and above all liens and encumbrances).
REAL PROPERTY TAX LIENS
- The Maricopa County delinquent tax-lien sale was good news for the County Treasury, but bad news for investors, By Mike Fimea, Arizona Business Gazette, February 19, 2004, volume 124,
Buying Tax Liens: Not Entirely a Gold Investment,By Christopher McNichol
Daystar vs Maricopa County Treasurer (Az Ct App, Div One 5-6-04) good review of tax liens statutes and governing law.
