Ariz. Rev. Stat. » Title 33
Arizona Revised Statutes

Ariz. Rev. Stat. § 33-702 (2026)

Mortgage defined; admissibility of proof that transfer is a mortgage

✓ current as of May 2026
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A. Every transfer of an interest in real property, other than in trust, or a trust deed subject to the provisions of chapter 6.1 of this title, made only as a security for the performance of another act, is a mortgage. The fact that a transfer was made subject to defeasance on a condition may, for the purpose of showing that the transfer is a mortgage, be proved except against a subsequent purchaser or encumbrancer for value and without notice, notwithstanding that the fact does not appear by the terms of the instrument.

B. A mortgage or trust deed may provide for an assignment to the mortgagee or beneficiary of the interest of the mortgagor or trustor in leases, rents, issues, profits or income from the property covered thereby, whether effective before, upon or after a default under such mortgage or trust deed or any contract secured thereby, and such assignment may be enforced without regard to the adequacy of the security or the solvency of the mortgagor or trustor by any one or more of the following methods:

1. The appointment of a receiver.

2. The mortgagee or beneficiary taking possession of the property, or without the mortgagee or beneficiary taking possession of the property.

3. Collecting such monies directly from the parties obligated for payment.

4. Injunction.

Notes of Decisions
Cited in 18 cases (1 in the last 5 years), 1957–2021 · leading case: Merryweather v. Pendleton, 367 P.2d 251 (Ariz. 1962).
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Merryweather v. Pendleton, 367 P.2d 251 (Ariz. 1962). · cites it 16× “A.R.S. § 33-702 provides: "Mortgage defined; pledge distinguished; admissibility of proof that transfer is a mortgage "Every transfer of an interest in property, other than in trust, made only as a security for the performance of another act, is a mortgage, except a transfer of…”
First Phoenix Realty Investments v. Superior Court, 841 P.2d 1390 (Ariz. Ct. App. 1992). · cites it 15× “A.R.S. § 33-702 is titled: "Mortgage defined; admissibility of proof that transfer is a mortgage.”
In Re Bisbee, 754 P.2d 1135 (Ariz. 1988). · cites it 2× “Assuming arguendo the above results in an invalid trust deed, whether such a document constitutes a mortgage or other enforceable realty *32 interest as defined by A.R.S. § 33-702(A). Since we conclude that the instruments in question are valid trust deeds under Arizona law, the…”
Bostwick v. Jasin, 821 P.2d 282 (Ariz. Ct. App. 1991). · cites it 4× “A.R.S. § 33-702(A) provides that “[e]very transfer of an interest in real property, .”
Repub. Nat'l Life Ins. v. Rudine, 668 P.2d 905 (Ariz. Ct. App. 1983). · cites it 2× “Republic claimed its right to possession under A.R.S. § 33-702, which reads: B. A mortgage or trust deed may provide for an assignment to the mortgagee or beneficiary of the interest of the mortgagor or trustor in leases, rents, issues, profits or income from the property…”
Levy v. Arizona Dep't of Econ. Sec., 643 P.2d 704 (Ariz. 1982). · cites it 2× “A mortgage is defined in A.R.S. § 33-702(A) as: “Every transfer of an interest in real property, other than in trust, or a trust deed subject to the provisions of title 33, chapter 6.”
Weaver v. Tri City Credit Bureau, 557 P.2d 1072 (Ariz. Ct. App. 1976). · cites it 8× “A.R.S. § 33-702 in effect at the time of this transaction provided in part: “Every transfer of an interest in property, other than in trust, .”
De Wulf v. Bissell, 316 P.2d 492 (Ariz. 1957). · cites it 2× “Certain conclusions are immediately apparent from the foregoing statement.”
Fremming Constr. Co. v. Sec. Sav. & Loan Ass'n, 566 P.2d 315 (Ariz. Ct. App. 1977). · cites it 2× “A.R.S. § 33-702(A) defines a mortgage as “every transfer of an interest in real property .”
Pima Cnty. v. Ina/Oldfather 4.7 Acres Trust 2292, 700 P.2d 877 (Ariz. Ct. App. 1984). · cites it 2× “The statute provides: “A mortgage or trust deed may provide for an assignment to the mortgagee or beneficiary of the interest of the mortgagor or trustor in leases, rents, issues, profits or income from the property covered thereby, whether effective before, upon or after a…”
In Re Corner Pockets of the Sw., Inc., 85 B.R. 559 (Bankr. D. Mont. 1988). “See Ariz.Rev.Stat. § 33-702(B). As noted above, the Trust Deeds provide that the Bank may enforce its interest in “rents and profits” only after it takes certain specified actions.”
Downs v. Ziegler, 477 P.2d 261 (Ariz. Ct. App. 1970). · cites it 2× “We believe that the provisions of A.R.S. § 33-702 are pertinent to the decision of this question in Arizona.”
Show all 18 citing cases →
— Ariz. Rev. Stat. § 33-702(A) — 5 cases
In Re Bisbee, 754 P.2d 1135 (Ariz. 1988). “Assuming arguendo the above results in an invalid trust deed, whether such a document constitutes a mortgage or other enforceable realty *32 interest as defined by A.R.S. § 33-702(A). Since we conclude that the instruments in question are valid trust deeds under Arizona law, the…”
Bostwick v. Jasin, 821 P.2d 282 (Ariz. Ct. App. 1991). “A.R.S. § 33-702(A) provides that “[e]very transfer of an interest in real property, .”
Levy v. Arizona Dep't of Econ. Sec., 643 P.2d 704 (Ariz. 1982). “A mortgage is defined in A.R.S. § 33-702(A) as: “Every transfer of an interest in real property, other than in trust, or a trust deed subject to the provisions of title 33, chapter 6.”
Fremming Constr. Co. v. Sec. Sav. & Loan Ass'n, 566 P.2d 315 (Ariz. Ct. App. 1977). “A.R.S. § 33-702(A) defines a mortgage as “every transfer of an interest in real property .”
Bisbee v. Sec. Nat'l Bank & Trust Co. of Norman, 754 P.2d 1135 (Ariz. 1988).
— Ariz. Rev. Stat. § 33-702(B) — 4 cases
First Phoenix Realty Investments v. Superior Court, 841 P.2d 1390 (Ariz. Ct. App. 1992). “A.R.S. § 33-702 is titled: "Mortgage defined; admissibility of proof that transfer is a mortgage.”
Pima Cnty. v. Ina/Oldfather 4.7 Acres Trust 2292, 700 P.2d 877 (Ariz. Ct. App. 1984). “The statute provides: “A mortgage or trust deed may provide for an assignment to the mortgagee or beneficiary of the interest of the mortgagor or trustor in leases, rents, issues, profits or income from the property covered thereby, whether effective before, upon or after a…”
In Re Corner Pockets of the Sw., Inc., 85 B.R. 559 (Bankr. D. Mont. 1988). “See Ariz.Rev.Stat. § 33-702(B). As noted above, the Trust Deeds provide that the Bank may enforce its interest in “rents and profits” only after it takes certain specified actions.”
Norwest Bank Arizona v. Superior Court, 963 P.2d 319 (Ariz. Ct. App. 1998).
— Ariz. Rev. Stat. § 33-702(B)(1) — 1 case
First Phoenix Realty Investments v. Superior Court, 841 P.2d 1390 (Ariz. Ct. App. 1992). “A.R.S. § 33-702 is titled: "Mortgage defined; admissibility of proof that transfer is a mortgage.”
— Ariz. Rev. Stat. § 33-702(B)(l) — 1 case
First Phoenix Realty Investments v. Superior Court, 841 P.2d 1390 (Ariz. Ct. App. 1992). “A.R.S. § 33-702 is titled: "Mortgage defined; admissibility of proof that transfer is a mortgage.”
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