Sections
Article 1 General Provisions 6-1701 – 6-1708

Terms Used In Arizona Laws > Title 6 > Chapter 17 - Reverse Mortgages

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Aggrieved party: means a person who resides at, owns or leases property within a one-mile radius of premises proposed to be licensed and who filed a written request with the department to speak in favor of or opposition to the issuance of the license not later than sixty days after filing the application or fifteen days after action by the local governing body, whichever is sooner. See Arizona Laws 4-101
  • Agreement: means the document that on execution obligates the borrower and originator under the reverse mortgage. See Arizona Laws 6-1701
  • Allegation: something that someone says happened.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • association: when used in reference to a corporation, includes successors or assigns. See Arizona Laws 4-101
  • Award: means the finding or decision of an administrative law judge or the commission as to the amount of compensation or benefit due an injured employee or the dependents of a deceased employee. See Arizona Laws 23-901
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Benefit: means anything of value or advantage, present or prospective. See Arizona Laws 13-105
  • Board: means the state liquor board. See Arizona Laws 4-101
  • Cardholder: means any person who is either:

    (a) Named on the face of a credit card to whom or for whose benefit the credit card is issued by an issuer. See Arizona Laws 13-2101

  • Client: means an individual, association, company, firm, partnership, corporation or any other legally recognized entity that is subject to this chapter and that enters into a professional employer agreement with a professional employer organization. See Arizona Laws 23-901
  • Club: includes any of the following organizations where the sale of spirituous liquor for consumption on the premises is made only to members, spouses of members, families of members, bona fide guests of members and guests at other events authorized in this title:

    (a) A post, chapter, camp or other local unit composed solely of veterans and its duly recognized auxiliary that has been chartered by the Congress of the United States for patriotic, fraternal or benevolent purposes and that has, as the owner, lessee or occupant, operated an establishment for that purpose in this state. See Arizona Laws 4-101

  • Co-employee: means every person employed by an injured employee's employer. See Arizona Laws 23-901
  • Commission: means the industrial commission of Arizona. See Arizona Laws 23-901
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Compensation: means the compensation and benefits provided by this chapter. See Arizona Laws 23-901
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Control: means the power to direct or cause the direction of the management and policies of an applicant or licensee, whether through the ownership of voting securities or a partnership interest, by agreement or otherwise. See Arizona Laws 4-101
  • Controlling person: means a person directly or indirectly possessing control of an applicant or licensee. See Arizona Laws 4-101
  • Craft distiller: means a distiller in the United States or in a territory or possession of the United States that holds a license pursuant to Section 4-205. See Arizona Laws 4-101
  • Credit card: means :

    (a) Any instrument or device, whether known as a credit card, charge card, credit plate, courtesy card or identification card or by any other name, that is issued with or without fee by an issuer for the use of the cardholder in obtaining money, goods, services or anything else of value, either on credit or in possession or in consideration of an undertaking or guaranty by the issuer of the payment of a check drawn by the cardholder, on a promise to pay in part or in full therefor at a future time, whether or not all or any part of the indebtedness that is represented by the promise to make deferred payment is secured or unsecured. See Arizona Laws 13-2101

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Department: means the department of liquor licenses and control. See Arizona Laws 4-101
  • Department: means the department of insurance and financial institutions. See Arizona Laws 6-101
  • Dependent: A person dependent for support upon another.
  • Director: means the director of the department of liquor licenses and control. See Arizona Laws 4-101
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Docket: A log containing brief entries of court proceedings.
  • Dwelling: means a residence that is designed principally for at least one and not more than four families in which the borrower occupies at least one of the units. See Arizona Laws 6-1701
  • Employee: means any person who performs any service on licensed premises on a full-time, part-time or contract basis with consent of the licensee, whether or not the person is denominated an employee or independent contractor or otherwise. See Arizona Laws 4-101
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Farm winery: means a winery in the United States or in a territory or possession of the United States that holds a license pursuant to Section 4-205. See Arizona Laws 4-101
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
    • You are late making a payment or commit some other default, triggering an increase to a penalty rate
    • The bank changes the terms of your account and you do not reject the change.
    • The rate expires (if the rate was fixed for only a certain period of time).
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • General order: means an order applied generally throughout this state to all persons under jurisdiction of the commission. See Arizona Laws 23-901
  • Government license: means a license to serve and sell spirituous liquor on specified premises available only to a state agency, state board, state commission, county, city, town, community college or state university or the national guard or Arizona coliseum and exposition center on application by the governing body of the state agency, state board, state commission, county, city, town, community college or state university or the national guard or Arizona exposition and state fair board. See Arizona Laws 4-101
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Housing counseling agency: means an agency that is approved by the United States department of housing and urban development to provide reverse mortgage counseling. See Arizona Laws 6-1701
  • Incomplete credit card: means a credit card on which part of the matter, other than the signature of the cardholder, which an issuer requires to appear before it can be used by a cardholder, has not been stamped, embossed, imprinted or written. See Arizona Laws 13-2101
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Insurance carrier: means every insurance carrier duly authorized by the director of the department of insurance and financial institutions to write workers' compensation or occupational disease compensation insurance in this state. See Arizona Laws 23-901
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Interested party: means the employer, the employee, or if the employee is deceased, the employee's estate, the surviving spouse or dependents, the commission, the insurance carrier or their representative. See Arizona Laws 23-901
  • Issuer: means any business organization, state agency or financial institution, or its duly authorized agent, that issues a credit card. See Arizona Laws 13-2101
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Legal drinking age: means twenty-one years of age or older. See Arizona Laws 4-101
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • License: means a license or an interim retail permit issued pursuant to this title. See Arizona Laws 4-101
  • License fees: means fees collected for license issuance, license application, license renewal, interim permit issuance and license transfer between persons or locations. See Arizona Laws 4-101
  • Licensee: means a person who has been issued a license or an interim retail permit pursuant to this title or a special event licensee. See Arizona Laws 4-101
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Merchant: means a person who is authorized under a written contract with a participating party to furnish money, goods, services or anything else of value on presentation of a credit card by a cardholder. See Arizona Laws 13-2101
  • Microbrewery: means a brewery in the United States or in a territory or possession of the United States that meets the requirements of Section 4-205. See Arizona Laws 4-101
  • Minor: means a person under eighteen years of age. See Arizona Laws 1-215
  • Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Off-sale retailer: means any person that operates a bona fide regularly established retail liquor store that sells spirituous liquors, wines and beer and any established retail store that sells commodities other than spirituous liquors and that is engaged in the sale of spirituous liquors only in the original unbroken package, to be taken away from the premises of the retailer and to be consumed off the premises. See Arizona Laws 4-101
  • On-sale retailer: means any person operating an establishment where spirituous liquors are sold in the original container for consumption on or off the premises or in individual portions for consumption on the premises. See Arizona Laws 4-101
  • Order: means and includes any rule, direction, requirement, standard, determination or decision other than an award or a directive by the commission or an administrative law judge relative to any entitlement to compensation benefits, or to the amount of compensation benefits, and any procedural ruling relative to the processing or adjudicating of a compensation matter. See Arizona Laws 23-901
  • Originator: means a person who regularly makes or brokers reverse mortgages, including a creditor or broker. See Arizona Laws 6-1701
  • Participating party: means a business organization or financial institution that is obligated or permitted by contract to acquire by electronic transmission or other means from a merchant a sales slip or sales draft or instrument for the payment of money evidencing a credit card transaction and from whom an issuer is obligated or permitted by contract to acquire by electronic transmission or other means such sales slip, sales draft or instrument for the payment of money evidencing a credit card transaction. See Arizona Laws 13-2101
  • Peace officers: means sheriffs of counties, constables, marshals, policemen of cities and towns, commissioned personnel of the department of public safety, personnel who are employed by the state department of corrections and the department of juvenile corrections and who have received a certificate from the Arizona peace officer standards and training board, peace officers who are appointed by a multicounty water conservation district and who have received a certificate from the Arizona peace officer standards and training board, police officers who are appointed by community college district governing boards and who have received a certificate from the Arizona peace officer standards and training board, police officers who are appointed by the Arizona board of regents and who have received a certificate from the Arizona peace officer standards and training board, police officers who are appointed by the governing body of a public airport pursuant to section 28-8426 and who have received a certificate from the Arizona peace officer standards and training board, peace officers who are appointed by a private postsecondary institution pursuant to section 15-1897 and who have received a certificate from the Arizona peace officer standards and training board and special agents from the office of the attorney general, or of a county attorney, and who have received a certificate from the Arizona peace officer standards and training board. See Arizona Laws 1-215
  • Person: includes a partnership, limited liability company, association, company or corporation, as well as a natural person. See Arizona Laws 4-101
  • Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
  • Personal injury by accident arising out of and in the course of employment: means any of the following:

    (a) Personal injury by accident arising out of and in the course of employment. See Arizona Laws 23-901

  • Petty offense: A federal misdemeanor punishable by six months or less in prison. Source: U.S. Courts
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • Population: means the population according to the most recent United States decennial census. See Arizona Laws 1-215
  • Possess: means knowingly to have physical possession or otherwise to exercise dominion or control over property. See Arizona Laws 13-105
  • Pro se: A Latin term meaning "on one's own behalf"; in courts, it refers to persons who present their own cases without lawyers.
  • Probate: Proving a will
  • Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
  • Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
  • Professional employer agreement: means a written contract between a client and a professional employer organization:

    (a) In which the professional employer organization expressly agrees to co-employ all or a majority of the employees providing services for the client. See Arizona Laws 23-901

  • Professional employer organization: means any person engaged in the business of providing professional employer services. See Arizona Laws 23-901
  • Professional employer services: means the service of entering into co-employment relationships under this chapter to which all or a majority of the employees providing services to a client or to a division or work unit of a client are covered employees. See Arizona Laws 23-901
  • Property: includes both real and personal property. See Arizona Laws 1-215
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • receiving: means acquiring possession or control of a credit card or accepting a credit card as security for a loan. See Arizona Laws 13-2101
  • Reencoder: means an electronic device that places encoded information from the magnetic strip or stripe of a credit card onto the magnetic strip or stripe of a different credit card. See Arizona Laws 13-2101
  • Registered mail: includes certified mail. See Arizona Laws 1-215
  • Repeated acts of violence: means :

    (a) For licensed premises with a permanent occupancy of two hundred or fewer persons, two or more acts of violence occurring within seven days or three or more acts of violence occurring within thirty days. See Arizona Laws 4-101

  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Reverse mortgage: means a nonrecourse consumer credit obligation to which all of the following apply:

    (a) A mortgage, deed of trust or equivalent consensual security interest securing one or more advances is created in the borrower's principal dwelling. See Arizona Laws 6-1701

  • Scanning device: means a scanner, reader or other electronic device that is used to access, read, scan, obtain, memorize, transmit or store, temporarily or permanently, information that is encoded on a magnetic strip or stripe of a credit card. See Arizona Laws 13-2101
  • Sell: includes soliciting or receiving an order for, keeping or exposing for sale, directly or indirectly delivering for value, peddling, keeping with intent to sell and trafficking in. See Arizona Laws 4-101
  • service: means either:

    (a) Mailing to the last known address of the receiving party. See Arizona Laws 23-901

  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Spirituous liquor: includes alcohol, brandy, whiskey, rum, tequila, mescal, gin, wine, porter, ale, beer, any malt liquor or malt beverage, absinthe, a compound or mixture of any of them or of any of them with any vegetable or other substance, alcohol bitters, bitters containing alcohol, any liquid mixture or preparation, whether patented or otherwise, that produces intoxication, fruits preserved in ardent spirits, and beverages containing more than one-half of one percent of alcohol by volume. See Arizona Laws 4-101
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Subpoena: A command to a witness to appear and give testimony.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Unlawful: means contrary to law or, where the context so requires, not allowed by law. See Arizona Laws 13-105
  • Vehicle: means any means of transportation by land, water or air, and includes everything made use of in any way for such transportation. See Arizona Laws 4-101
  • Wilfully: means , with respect to conduct or to a circumstance described by a statute defining an offense, that a person is aware or believes that the person's conduct is of that nature or that the circumstance exists. See Arizona Laws 1-215
  • Wine: means the product obtained by the fermentation of grapes, other agricultural products containing natural or added sugar or cider or any such alcoholic beverage fortified with grape brandy and containing not more than twenty-four percent of alcohol by volume. See Arizona Laws 4-101
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.
  • Writ: means an order or precept in writing issued in the name of the state or by a court or judicial officer. See Arizona Laws 1-215
  • Writ of certiorari: An order issued by the Supreme Court directing the lower court to transmit records for a case for which it will hear on appeal.
  • Writing: includes printing. See Arizona Laws 1-215