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- Conflicts of Laws, Deficiency Actions, and Statutes of Limitations – Oh My!
- Landlords Beware: Subordination Agreements
- Colorado House Bill 1279 stalls over 120-day unit owner election period
- What is the Effect of an Untimely Challenge to the Timeliness of a Trustee’s Sale?
- Utah Becomes First State to Enact the Uniform Commercial Real Estate Receivership Act
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By: Ben Reeves & Julie Maurer
Arizona anti-deficiency laws do not prohibit a non-purchase money lender from suing on its note after foreclosure by a senior lender. In Wells Fargo Bank, N.A. v. Brewer, No. 1CA-CV 12-0383 (Ariz. Ct. App. May 21, 2013 unpublished), the Arizona Court of Appeals held that Arizona’s anti-deficiency statute, A.R.S. § 33-814, did not prevent Wells Fargo from suing on its note after a senior lender foreclosed on the borrowers’ multi-million dollar home.
In 2007, Wells Fargo agreed to lend the Brewers up to $1,000,000 and secured the loan with a second position deed of trust recorded against the Brewers’ home. … Read More »
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