county abatement liens; notice; priority
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill modifies Arizona law regarding county abatement liens, notices, and priority. It clarifies that selling a property tax lien does not eliminate existing easements or other liens on the property. Furthermore, it establishes procedures for excess proceeds from property sales resulting from tax lien foreclosures, requiring the certificate of purchase holder to provide detailed cost information and a market value estimate to the court to determine if the sale is reasonable. The bill also outlines the rights of property owners to challenge the sale of excess proceeds.
Key provisions
- Sales of property tax liens do not extinguish easements or other liens.
- Establishes procedures for determining if the sale of property to recover excess proceeds is reasonable.
- Requires the certificate of purchase holder to provide detailed cost information and a market value estimate to the court.
- Specifies the interest rate for calculating interest on tax liens.
- Defines the circumstances under which a court can order a sale of property to recover excess proceeds.
- Clarifies that foreclosure of the right to redeem does not extinguish certain liens or easements.
- Addresses the potential for abatement liens and excludes them from the scope of liens that are extinguished by sale.
- Sets a minimum sale price threshold ($2,500) for determining if an excess proceeds sale is reasonable.
Who is affected
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Sponsors
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1 on record
Primary sponsor
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