A. Notwithstanding section 33-411, subsection D, every deed or conveyance of real property, or an interest in real property, located in this state which is executed after June 22, 1976 in which the grantee is described as a trustee or acts as a trustee shall disclose the names and addresses of the beneficiaries for whom the grantee holds title and shall identify the trust or other agreement under which the grantee is acting or refer by proper description to the document number or the docket and page of an instrument or other writing which is of public record in the county in which the property so conveyed is located in which such matters are disclosed.
B. Notwithstanding section 33-411, subsection D, every deed or conveyance of real property, or an interest in real property, located in this state which is executed after June 22, 1976 by a grantor who holds title to the property as a trustee, whether or not such capacity is identified on the document through which title was acquired, shall also disclose the names and addresses of the beneficiaries for whom the grantor held title to the property and shall identify the trust or other agreement under which the grantor is acting or refer by proper description to the document number or the docket and page of an instrument or other writing which is of public record in the county in which the property so conveyed is located in which such matters are disclosed.
C. Notwithstanding section 33-411, subsection D, a grantee who holds title as a trustee under a trust or other agreement which is subject to the disclosure requirements of this section and who receives actual knowledge after August 18, 1987 of a change in beneficiary, within thirty days after receiving such actual knowledge, shall record with the county recorder of the county in which the property is located a notice of the change. The recording and any subsequent recording of any change in any beneficiary shall identify the trust or other agreement under which the grantee holds title and shall include the legal description of the property and a list of the then current names and addresses of the beneficiaries.
D. Notwithstanding subsections A, B and C of this section, a trustee is not required to record a change of beneficiary if, upon the death of a beneficiary of a real property trust, the interests of the deceased beneficiary vest in the beneficiary's estate or in other beneficiaries identified in a previous recording. If the interest of the deceased beneficiary vests in a beneficiary not identified in a previous recording, the trustee shall comply with the recording requirements of this chapter within thirty days of receipt of both knowledge of the death and the name and address of the successor beneficiary or beneficiaries or within thirty days of the first distribution of income or principal to a successor beneficiary or beneficiaries, whichever occurs first.
E. Any conveyance of real property or an interest in real property which does not include the disclosures required by this section with respect to the property so conveyed is voidable by the other party to the conveyance. Any action to void the conveyance shall be commenced within two years after the date of recordation of the document effecting the conveyance.
F. If real property or any interest in real property, or any mortgage, deed of trust or other lien on real property, is acquired for value, the title, interest, mortgage, deed of trust or other lien is not impaired or in any way adversely affected by reason of the failure of any person to comply with the requirements of this section.
G. As used in this section, "trustee" does not include an agent for a disclosed principal, a conservator, a guardian, a personal representative, an attorney-in-fact, a lessor or lessee under a lease, a trustee in a bankruptcy or receivership proceeding, a trustee under a deed of trust, a trustee under a business trust or a trustee under an indenture for security holders.
Notes of Decisions
Blalak v. Mid Valley Transp., Inc., 858 P.2d 683 (Ariz. Ct. App. 1993).
· cites it 75× “The issue presented by this appeal is whether the failure to record the existence of a beneficial interest in land held in trust, as provided by A.R.S. § 33-404, subjects that beneficial interest to a judgment lien obtained against the trustee.”
Kaufmann v. M & S Unlimited, L.L.C., 121 P.3d 181 (Ariz. Ct. App. 2005).
· cites it 5× “Blalak sought to quiet title to the property in himself and to have the lien declared invalid on the ground that he had always been the equitable owner of the property notwithstanding § 33-412(A), which provides that unrecorded conveyances of property are void as to creditors, 4…”
Hunnicutt Constr., Inc. v. Stewart Title & Trust of Tucson Trust No. 3496, 928 P.2d 725 (Ariz. Ct. App. 1996).
· cites it 2× “That broad holding, however, went beyond the scope of the issue posed in the ease, which was “whether the failure to record the existence of a beneficial interest in land held in trust, as provided by AR.S. § 33-404, subjects that beneficial interest to a judgment Hen obtained…”
Eardley v. Greenberg, 792 P.2d 724 (Ariz. 1990).
· cites it 2× “Although that section has been repealed, A.R.S. § 33-404(C) requires any trustee who receives actual knowledge of a change in beneficiary to record a notice of the change in the county in which the property is located.”
Eardley v. Greenberg, 774 P.2d 822 (Ariz. Ct. App. 1989).
· cites it 4× “This section was repealed and replaced by A.R.S. § 33-404, which is similar, but expressly excludes its requirements from an attorney-in-fact.”
In Re Est. of Kiser, 72 P.3d 425 (Colo. Ct. App. 2003).
“, Ariz.Rev.Stat. § 33-404 (2002); Mont.Code Ann.”
Steelman v. US Bank (Ariz. Ct. App. 2016).
· cites it 10× “The lawsuit concluded with the entry of a judgment stating that the Quitclaim Deed was void because it did not contain trust-related disclosures as required by A.R.S. § 33-404(B) (2014). ¶6 In August 2013, US Bank started foreclosure proceedings on the Myrmans’ home by recording…”
Steelman v. US Bank (Ariz. Ct. App. 2016).
· cites it 10× “The lawsuit concluded with the entry of a judgment stating that the Quitclaim Deed was void because it did not contain trust-related disclosures as required by A.R.S. § 33-404(B) (2014). ¶6 In August 2013, US Bank started foreclosure proceedings on the Myrmans’ home by recording…”
Kaufmann v. M & S Unlimited, L.L.C. (Ariz. Ct. App. 2005).
· cites it 5× “Blalak sought to quiet title to the property in himself and to have the lien declared invalid on the ground that he had always been the equitable owner of the property notwithstanding § 33-412(A), which provides that unrecorded conveyances of property are void as to creditors,4…”
George Walker v. Washington Mut. Bank Fa, 558 F. App'x 773 (9th Cir. 2014).
“See Ariz.Rev.Stat. § 33-404(G). The district court properly dismissed the claim based on insufficient notice because plaintiffs did not allege that defendants had not mailed the required notices.”
— Ariz. Rev. Stat. § 33-404(A) — 1 case
Blalak v. Mid Valley Transp., Inc., 858 P.2d 683 (Ariz. Ct. App. 1993).
“The issue presented by this appeal is whether the failure to record the existence of a beneficial interest in land held in trust, as provided by A.R.S. § 33-404, subjects that beneficial interest to a judgment lien obtained against the trustee.”
— Ariz. Rev. Stat. § 33-404(B) — 2 cases
Steelman v. US Bank (Ariz. Ct. App. 2016).
“The lawsuit concluded with the entry of a judgment stating that the Quitclaim Deed was void because it did not contain trust-related disclosures as required by A.R.S. § 33-404(B) (2014). ¶6 In August 2013, US Bank started foreclosure proceedings on the Myrmans’ home by recording…”
Steelman v. US Bank (Ariz. Ct. App. 2016).
“The lawsuit concluded with the entry of a judgment stating that the Quitclaim Deed was void because it did not contain trust-related disclosures as required by A.R.S. § 33-404(B) (2014). ¶6 In August 2013, US Bank started foreclosure proceedings on the Myrmans’ home by recording…”
— Ariz. Rev. Stat. § 33-404(C) — 1 case
Eardley v. Greenberg, 792 P.2d 724 (Ariz. 1990).
“Although that section has been repealed, A.R.S. § 33-404(C) requires any trustee who receives actual knowledge of a change in beneficiary to record a notice of the change in the county in which the property is located.”
— Ariz. Rev. Stat. § 33-404(E) — 1 case
Blalak v. Mid Valley Transp., Inc., 858 P.2d 683 (Ariz. Ct. App. 1993).
“The issue presented by this appeal is whether the failure to record the existence of a beneficial interest in land held in trust, as provided by A.R.S. § 33-404, subjects that beneficial interest to a judgment lien obtained against the trustee.”
— Ariz. Rev. Stat. § 33-404(F) — 5 cases
Blalak v. Mid Valley Transp., Inc., 858 P.2d 683 (Ariz. Ct. App. 1993).
“The issue presented by this appeal is whether the failure to record the existence of a beneficial interest in land held in trust, as provided by A.R.S. § 33-404, subjects that beneficial interest to a judgment lien obtained against the trustee.”
Kaufmann v. M & S Unlimited, L.L.C., 121 P.3d 181 (Ariz. Ct. App. 2005).
“Blalak sought to quiet title to the property in himself and to have the lien declared invalid on the ground that he had always been the equitable owner of the property notwithstanding § 33-412(A), which provides that unrecorded conveyances of property are void as to creditors, 4…”
Steelman v. US Bank (Ariz. Ct. App. 2016).
“The lawsuit concluded with the entry of a judgment stating that the Quitclaim Deed was void because it did not contain trust-related disclosures as required by A.R.S. § 33-404(B) (2014). ¶6 In August 2013, US Bank started foreclosure proceedings on the Myrmans’ home by recording…”
Steelman v. US Bank (Ariz. Ct. App. 2016).
“The lawsuit concluded with the entry of a judgment stating that the Quitclaim Deed was void because it did not contain trust-related disclosures as required by A.R.S. § 33-404(B) (2014). ¶6 In August 2013, US Bank started foreclosure proceedings on the Myrmans’ home by recording…”
Kaufmann v. M & S Unlimited, L.L.C. (Ariz. Ct. App. 2005).
“Blalak sought to quiet title to the property in himself and to have the lien declared invalid on the ground that he had always been the equitable owner of the property notwithstanding § 33-412(A), which provides that unrecorded conveyances of property are void as to creditors,4…”
— Ariz. Rev. Stat. § 33-404(G) — 1 case
George Walker v. Washington Mut. Bank Fa, 558 F. App'x 773 (9th Cir. 2014).
“See Ariz.Rev.Stat. § 33-404(G). The district court properly dismissed the claim based on insufficient notice because plaintiffs did not allege that defendants had not mailed the required notices.”
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