Ariz. Rev. Stat. » Title 33

Ariz. Rev. Stat. § 33-806.01

Trustor's right to transfer; transfer fee limit; interest rate increase limit

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A. Nothing in this article shall be construed to prevent or limit the right of a trustor to transfer his interest in the trust property, or authorize a beneficiary or trustee to arbitrarily withhold his consent to a transfer by the trustor of his interest in the trust property.

B. When a trustor transfers his interest in the trust property, no beneficiary or trustee shall charge a fee on the transfer of more than one hundred dollars or one per cent of the balance due on the obligation secured by the trust deed, whichever is greater.

C. When a trustor transfers his interest in the trust property, no beneficiary or trustee shall increase the interest rate on the obligation secured by such trust deed unless the transferring trustor is released from all liability thereon and in no event shall the amount of such increase exceed one-half of one percent per annum more than the interest rate paid by the transferring trustor.

D. This section shall be applicable only to trust property of two and one-half acres or less which is not used for commercial purposes and which is limited to and utilized for dwelling units, not to exceed four single-family units.

Notes of Decisions
Cited in 10 cases, 1978–1991 · leading case: Scappaticci v. Southwest Savings & Loan Ass'n
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Scappaticci v. Southwest Savings & Loan Ass'n (1983) ariz · cites it 8× “The appellees filed a motion for partial summary judgment on the grounds that appellants’ due-on-sale policy constituted an unreasonable restraint on alienation, violated public policy and was impermissible under A.R.S. § 33-806.01. The trial court granted the motion and entered…”
Mid Kansas Federal Savings & Loan Ass'n of Wichita v. Dynamic Development Corp. (1991) ariz · cites it 4× “§ 33-814(G): If trust property of two and one-half acres or less which is limited to and utilized for either a single one-family or single two-family dwelling is sold pursuant to the trustee's power of sale, no action may be maintained to recover any difference between the…”
Phillips v. Superior Court (1984) arizctapp · cites it 14× “This section shall be applicable only to trust property of two and one-half acres or less which is not used for commercial purposes and which is limited to and utilized for dwelling units, not to exceed four single-family units.”
Patton v. FIRST FED. SAV. & LOAN ASS'N, ETC. (1978) ariz · cites it 6× “See A.R.S. § 33-806.01. The record suggests that First Federal may have waived its right to obtain information from Toy.”
Patton v. First Federal Savings & Loan Ass'n of Phoenix (1978) ariz · cites it 4× “See A.R.S. § 33-806.01. The record suggests that First Federal may have waived its right to obtain information from Toy.”
In Re Bisbee (1988) ariz · cites it 2× “See A.R.S. § 33-806.01(A). As stated in Brant : [T]he bare legal title held by the trustee is very tenuous, and may at any time prior to sale be terminated by unilateral action of the beneficiary.”
Snow v. Western Savings & Loan Ass'n (1985) arizctapp · cites it 6× “Although the Patton court relied to some *24 extent on A.R.S. § 33-806.01, which specifically concerns residential deeds of trust, that section clearly was not the sine qua non of its holding.”
Read v. Arizona Dept. of Revenue (1991) ariztaxct · cites it 2× “1988); see also A.R.S. § 33-806.01(A). Because Read's predecessor in interest "enjoy[ed] all other incidents of ownership," Read did not stand in the same position as his predecessor at the time the right to appeal the property's valuation became ripe.”
Mid Kansas Federal Savings & Loan Ass'n of Wichita v. Dynamic Development Corp. (1989) arizctapp · cites it 2× “For example, the legislature defined trust property in A.R.S. § 33-806.01(D), which it enacted in the same bill with A.”
Bisbee v. Security National Bank & Trust Co. of Norman (1988) ariz · cites it 2× “See A.R.S. § 33-806.01(A). As stated in Brant : [T]he bare legal title held by the trustee is very tenuous, and may at any time prior to sale be terminated by unilateral action of the beneficiary.”
— Ariz. Rev. Stat. § 33-806.01(0) — 1 case
Patton v. First Federal Savings & Loan Ass'n of Phoenix (1978) ariz “See A.R.S. § 33-806.01. The record suggests that First Federal may have waived its right to obtain information from Toy.”
— Ariz. Rev. Stat. § 33-806.01(A) — 6 cases
Scappaticci v. Southwest Savings & Loan Ass'n (1983) ariz “The appellees filed a motion for partial summary judgment on the grounds that appellants’ due-on-sale policy constituted an unreasonable restraint on alienation, violated public policy and was impermissible under A.R.S. § 33-806.01. The trial court granted the motion and entered…”
In Re Bisbee (1988) ariz “See A.R.S. § 33-806.01(A). As stated in Brant : [T]he bare legal title held by the trustee is very tenuous, and may at any time prior to sale be terminated by unilateral action of the beneficiary.”
Read v. Arizona Dept. of Revenue (1991) ariztaxct “1988); see also A.R.S. § 33-806.01(A). Because Read's predecessor in interest "enjoy[ed] all other incidents of ownership," Read did not stand in the same position as his predecessor at the time the right to appeal the property's valuation became ripe.”
Patton v. FIRST FED. SAV. & LOAN ASS'N, ETC. (1978) ariz “See A.R.S. § 33-806.01. The record suggests that First Federal may have waived its right to obtain information from Toy.”
Snow v. Western Savings & Loan Ass'n (1985) arizctapp “Although the Patton court relied to some *24 extent on A.R.S. § 33-806.01, which specifically concerns residential deeds of trust, that section clearly was not the sine qua non of its holding.”
— Ariz. Rev. Stat. § 33-806.01(C) — 2 cases
Patton v. FIRST FED. SAV. & LOAN ASS'N, ETC. (1978) ariz “See A.R.S. § 33-806.01. The record suggests that First Federal may have waived its right to obtain information from Toy.”
Phillips v. Superior Court (1984) arizctapp “This section shall be applicable only to trust property of two and one-half acres or less which is not used for commercial purposes and which is limited to and utilized for dwelling units, not to exceed four single-family units.”
— Ariz. Rev. Stat. § 33-806.01(D) — 2 cases
Mid Kansas Federal Savings & Loan Ass'n of Wichita v. Dynamic Development Corp. (1991) ariz “§ 33-814(G): If trust property of two and one-half acres or less which is limited to and utilized for either a single one-family or single two-family dwelling is sold pursuant to the trustee's power of sale, no action may be maintained to recover any difference between the…”
Mid Kansas Federal Savings & Loan Ass'n of Wichita v. Dynamic Development Corp. (1989) arizctapp “For example, the legislature defined trust property in A.R.S. § 33-806.01(D), which it enacted in the same bill with A.”
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