Arizona Foreclosure Deficiency Laws

Most homeowners in Arizona that find themselves in a foreclosure situation are facing what is called a "trustee's sale".  This sale process stems from Arizona's deed of trust laws.  If the home is sold at a trustee's sale and the proceeds are insufficient to cover the loan amount, the lender may choose to pusue a deficiency action. However, there are exemptions and protections under Arizona law that protect many homeowners from such liability.  The primary law at issue is A.R.S. 33-814. This, and other laws related to Arizona deeds of trust are linked below.


The Lynch Law Firm represents homeowners and landowners being sued by their lender for a deficiency action.  The attorneys can be reached at http://www.lynchlegalfirm.com or 602-274-6369.

 

Chapter 6.1 DEEDS OF TRUST
Article 1 General Provisions
33-801 Definitions
33-802 Description of trust property; mailing address of trustor and trustee
33-803 Trustee of trust deed; qualifications
33-803.01 Trustee of trust deed; delegation of duties
33-804 Appointment of successor trustee by beneficiary
33-805 Deed of trust as security
33-806 Transfers in trust of real property; uses
33-806.01 Trustor's right to transfer; transfer fee limit; interest rate increase limit
33-807 Sale of trust property; power of trustee; foreclosure of trust deed
33-808 Notice of trustee's sale
33-809 Request for copies of notice of sale; mailing by trustee; disclosure of information regarding trustee sale
33-810 Sale by public auction; postponement of sale
33-811 Payment of bid; trustee's deed
33-812 Disposition of proceeds of sale
33-813 Default in performance of contract secured; reinstatement; cancellation of recorded notice of sale
33-814 Action to recover balance after sale or foreclosure on property under trust deed
33-815 Method of indexing
33-816 Limitation on action or sale of trust property
33-817 Transfer of secured contract
33-818 Notice from instruments recorded; assignment of a beneficial interest
33-819 Exempt transactions
33-820 Trustee's right to rely; attorney's right to act for trustee and beneficiary
33-821 Exemption from definition

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