Monthly Archives: March 2015

Yet More Lien Law – Owner-Occupant Exception Means What it Says

Arizona lien law continues to grow, this time regarding A.R.S. 33-1002(B), the owner-occupant exception. In Marco Crane & Rigging, Co. v. Masaryk, the Arizona Court of Appeals, Division One, explained that § 33-1002(B) excludes mechanic’s liens from attaching to properties “of a person who became an owner-occupant prior to the construction, alteration, repair or improvement, except… Read more

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Arizona Upholds Fair Market Valuation Right

A fair market valuation is a statutory right under Arizona law after property is sold at a trustee’s sale.  Banks have long included language in their loan documents that prospectively waives those rights — but no longer under a new ruling. During the depths of the Great Recession (2008 – 2010) many borrowers found themselves on the… Read more

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Borrowers on Vacant Lots Beware

The recent Great Recession continues to produce decisions by Arizona courts.  In January, the Arizona Supreme Court held that Arizona’s anti-deficiency statute does not protect borrowers that default if the home was never built.  In BMO Harris Bank v. Wildwood Creek Ranch, LLC, the Court held that protections under ARS § 33-814(G) against deficiency judgments… Read more

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