Arizona Laws 33-721. Foreclosure of mortgage by court action
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Mortgages of real property and deeds of trust of a type not included in the definition of deed of trust provided in section 33-801, notwithstanding any other provision in the mortgage or deed, shall be foreclosed by action in a court.
Terms Used In Arizona Laws 33-721
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.