Arizona Laws 48-3164. Priority of mortgage liens
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The mortgage liens into which assessments or tax liens are converted by mortgage, as provided by this article, shall constitute negotiable mortgage liens upon such lands in accordance with the priority established by the district board, notwithstanding the conversion of assessment or tax liens into mortgage or contract liens, and shall be prior and superior to all other liens or encumbrances except liens of state, county and district taxes not converted.
Terms Used In Arizona Laws 48-3164
- Contract: A legal written agreement that becomes binding when signed.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.