In this chapter, unless the context otherwise requires:
1. "Beneficiary" means the person named or otherwise designated in a trust deed as the person for whose benefit a trust deed is given, or the person's successor in interest.
2. "Business day" means any day other than a Saturday or a legal holiday.
3. "Cash" means United States currency.
4. "Contract" means a promise or a set of promises for the breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty, including but not limited to a note, a promissory note or provisions of any trust deed.
5. "Credit bid" means a bid made by the beneficiary in full or partial satisfaction of the contract or contracts which are secured by the trust deed. Such credit bid may only include an amount up to the full amount of the contract or contracts secured by the trust deed, less any amount owing on liens or encumbrances with interest which are superior in priority to the trust deed and which the beneficiary is obligated to pay under the contract or contracts or under the trust deed, together with the amount of other obligations provided in or secured by the trust deed and the costs and expenses of exercising the power of sale and the sale, including the trustee's fees and reasonable attorney fees actually incurred.
6. "Force majeure" means an act of God or of nature, a superior or overpowering force or an event or effect that cannot reasonably be anticipated or controlled and that prevents access to the sale location for conduct of a sale.
7. "Parent corporation" means a corporation which owns eighty per cent or more of every class of the issued and outstanding stock of another corporation or, in the case of a savings and loan association, eighty per cent or more of its issued and outstanding guaranty capital.
8. "Trust deed" or "deed of trust" means a deed executed in conformity with this chapter and conveying trust property to a trustee or trustees qualified under section 33-803 to secure the performance of a contract or contracts, other than a trust deed which encumbers in whole or in part trust property located in Arizona and in one or more other states.
9. "Trust property" means any legal, equitable, leasehold or other interest in real property which is capable of being transferred, whether or not it is subject to any prior mortgages, trust deeds, contracts for conveyance of real property or other liens or encumbrances.
10. "Trustee" means an individual, association or corporation qualified pursuant to section 33-803, or the successor in interest thereto, to whom trust property is conveyed by trust deed. The trustee's obligations to the trustor, beneficiary and other persons are as specified in this chapter, together with any other obligations specified in the trust deed.
11. "Trustor" means the person conveying trust property by a trust deed as security for the performance of a contract or contracts, or the successor in interest of such person.
Notes of Decisions
Cited in
62
cases (
5 in the last 5 years), 1976–2025 · leading case:
Steinberger v. McVey, 318 P.3d 419 (Ariz. Ct. App. 2014).
Steinberger v. McVey, 318 P.3d 419 (Ariz. Ct. App. 2014).
· cites it 10× “¶ 27 A deed of trust allows for a nonjudicial foreclosure sale by creating rights and responsibilities in three individuals or entities: “trustee,” “trustor,” and “beneficiary.”
Snyder v. HSBC Bank, USA, N.A., 873 F. Supp. 2d 1139 (D. Ariz. 2012).
· cites it 10× “at 2) He points out “[t]here is not one single allegation that Les Zieve breached his obligations as the trustee of the deed of trust under ARS § 33-801 et seq. or the deed of trust.”
In Re Bisbee, 754 P.2d 1135 (Ariz. 1988).
· cites it 10× “Whether the failure of a deed of trust and assignment of rents executed in Arizona and covering Arizona realty to designate a trustee to whom the trust property is conveyed results in an invalid trust deed under the Arizona Trust Deeds Act, A.R.S. § 33-801 et seq. 2. Assuming…”
In Re Krohn, 52 P.3d 774 (Ariz. 2002).
· cites it 4× “¶ 44 Arizona's Deed of Trust Act (the Act), A.R.S. §§ 33-801 to 33-821, first authorizes deeds of trust and then provides a detailed and comprehensive framework for carrying out non-judicial foreclosures.”
Snyder v. HSBC Bank, USA, N.A., 913 F. Supp. 2d 755 (D. Ariz. 2012).
· cites it 4× “Arizona law requires that a homeowner receive 90 days’ notice of a trustee sale upon a homeowner’s default on a note secured by a trust deed. A.R.S. §§ 33-808(C), -809(C). “The intent of.”
M & I BANK, FSB v. Coughlin, 805 F. Supp. 2d 858 (D. Ariz. 2011).
· cites it 6× “The Act set forth detailed provisions governing formation and administration of trust deeds, and introduced procedures that differ markedly from the procedures governing mortgages.”
Manicom v. Citimortgage, Inc., 336 P.3d 1274 (Ariz. Ct. App. 2014).
· cites it 4× “¶ 8 Arizona’s Deeds of Trust Act, AR.S. §§ 33-801 through 33-821, “is a comprehensive set of statutes governing the execution and operation of deeds of trust.”
Kenly v. Miracle Props., 412 F. Supp. 1072 (D. Ariz. 1976).
· cites it 8× “Plaintiff filed suit in this court challenging the constitutionality of a Deed of Trust *1074 sale pursuant to A.R.S. § 33-801 et seq. 1 The court’s jurisdiction was invoked pursuant to 28 U.”
Nat'l Bank v. Schwartz, 283 P.3d 41 (Ariz. Ct. App. 2012).
· cites it 4× “A.R.S. § 33-801(5) (2007). Bank asserted $675,000 was the fair market value at the time of the sale.”
Town of Paradise Valley v. Gulf Leisure Corp., 557 P.2d 532 (Ariz. Ct. App. 1976).
· cites it 4× “Not only do the deeds contain language allowing Midland to appear and to take any action necessary to protect its interest in the property, but A.R.S. §§ 33-801 and 33-806 authorize similar agency status activity.”
— Ariz. Rev. Stat. § 33-801(1) — 3 cases
Steinberger v. McVey, 318 P.3d 419 (Ariz. Ct. App. 2014).
“¶ 27 A deed of trust allows for a nonjudicial foreclosure sale by creating rights and responsibilities in three individuals or entities: “trustee,” “trustor,” and “beneficiary.”
Snyder v. HSBC Bank, USA, N.A., 873 F. Supp. 2d 1139 (D. Ariz. 2012).
“at 2) He points out “[t]here is not one single allegation that Les Zieve breached his obligations as the trustee of the deed of trust under ARS § 33-801 et seq. or the deed of trust.”
— Ariz. Rev. Stat. § 33-801(10) — 5 cases
— Ariz. Rev. Stat. § 33-801(11) — 2 cases
Manicom v. Citimortgage, Inc., 336 P.3d 1274 (Ariz. Ct. App. 2014).
“¶ 8 Arizona’s Deeds of Trust Act, AR.S. §§ 33-801 through 33-821, “is a comprehensive set of statutes governing the execution and operation of deeds of trust.”
— Ariz. Rev. Stat. § 33-801(3) — 1 case
— Ariz. Rev. Stat. § 33-801(4) — 7 cases
Snyder v. HSBC Bank, USA, N.A., 913 F. Supp. 2d 755 (D. Ariz. 2012).
“Arizona law requires that a homeowner receive 90 days’ notice of a trustee sale upon a homeowner’s default on a note secured by a trust deed. A.R.S. §§ 33-808(C), -809(C). “The intent of.”
Snyder v. HSBC Bank, USA, N.A., 873 F. Supp. 2d 1139 (D. Ariz. 2012).
“at 2) He points out “[t]here is not one single allegation that Les Zieve breached his obligations as the trustee of the deed of trust under ARS § 33-801 et seq. or the deed of trust.”
— Ariz. Rev. Stat. § 33-801(5) — 12 cases
Nat'l Bank v. Schwartz, 283 P.3d 41 (Ariz. Ct. App. 2012).
“A.R.S. § 33-801(5) (2007). Bank asserted $675,000 was the fair market value at the time of the sale.”
M & I BANK, FSB v. Coughlin, 805 F. Supp. 2d 858 (D. Ariz. 2011).
“The Act set forth detailed provisions governing formation and administration of trust deeds, and introduced procedures that differ markedly from the procedures governing mortgages.”
In Re Bisbee, 754 P.2d 1135 (Ariz. 1988).
“Whether the failure of a deed of trust and assignment of rents executed in Arizona and covering Arizona realty to designate a trustee to whom the trust property is conveyed results in an invalid trust deed under the Arizona Trust Deeds Act, A.R.S. § 33-801 et seq. 2. Assuming…”
— Ariz. Rev. Stat. § 33-801(6) — 1 case
— Ariz. Rev. Stat. § 33-801(7) — 2 cases
In Re Bisbee, 754 P.2d 1135 (Ariz. 1988).
“Whether the failure of a deed of trust and assignment of rents executed in Arizona and covering Arizona realty to designate a trustee to whom the trust property is conveyed results in an invalid trust deed under the Arizona Trust Deeds Act, A.R.S. § 33-801 et seq. 2. Assuming…”
— Ariz. Rev. Stat. § 33-801(8) — 9 cases
Steinberger v. McVey, 318 P.3d 419 (Ariz. Ct. App. 2014).
“¶ 27 A deed of trust allows for a nonjudicial foreclosure sale by creating rights and responsibilities in three individuals or entities: “trustee,” “trustor,” and “beneficiary.”
Nat'l Bank v. Schwartz, 283 P.3d 41 (Ariz. Ct. App. 2012).
“A.R.S. § 33-801(5) (2007). Bank asserted $675,000 was the fair market value at the time of the sale.”
M & I BANK, FSB v. Coughlin, 805 F. Supp. 2d 858 (D. Ariz. 2011).
“The Act set forth detailed provisions governing formation and administration of trust deeds, and introduced procedures that differ markedly from the procedures governing mortgages.”
— Ariz. Rev. Stat. § 33-801(9) — 1 case
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