Arizona Revises Anti-Deficiency Statute Language
 Arizona Governor Brewer signed into law on Friday, July 10, 2009 Senate Bill 1271 making changes to the anti-deficiency statute, further limiting the specific type of property that is protected by the statute. The substantive change is to 33-814(G), which adds the following requirements to the type of property protected:
- The trustor under the deed of trust must have used the property as a dwelling for at least six consecutive months, and
- A certificate of occupancy must have been issued for the property.
Also, the statute makes clear that the trustor has the burden to prove these two additional requirements in order to be protected by this anti-deficiency statute.
The effect it to allow deficiency actions against borrowers whose property does not meet these additional requirements.
Read a copy of the enacted version of the bill
eNews update written by Rex C. Anderson, Esq., Law Office of Rex C. Anderson. P.C.
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