Ariz. Rev. Stat. » Title 47
Arizona Revised Statutes

Ariz. Rev. Stat. § 47-3201 (2026)

Negotiation

✓ current as of May 2026
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A. "Negotiation" means a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person who thereby becomes its holder.

B. Except for negotiation by a remitter, if an instrument is payable to an identified person, negotiation requires transfer of possession of the instrument and its indorsement by the holder. If an instrument is payable to bearer, it may be negotiated by transfer of possession alone.

Notes of Decisions
Cited in 4 cases, 1986–2014 · leading case: Fore v. Bles, 721 P.2d 151 (Ariz. Ct. App. 1986).
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Fore v. Bles, 721 P.2d 151 (Ariz. Ct. App. 1986). · cites it 9× “Arizona Revised Statutes § 47-3201 is based on “the property principle that a transferee of property, be it real property, tangible personal property or *605 intangible property, gets all of the rights of his transferor as a result of the transfer.”
Great W. Bank & Trust Co. v. Pima Sav. & Loan Ass'n, 718 P.2d 1017 (Ariz. Ct. App. 1986). · cites it 2× “Therefore the criteria of A.R.S. § 47-3303(3) was met. Transamerica is a holder-in-due-course.”
Park Tucson Investors Ltd. P'ship v. Ali, 770 F. Supp. 531 (D. Ariz. 1991). “”) §§ 47-3201 and 47-3202. Plaintiff contends that there are no serious problems with the assignments.”
Wolfson v. B of a (Ariz. Ct. App. 2014). · cites it 2× “2 2 Wolfson further asserts that the note can only be negotiated or transferred pursuant to A.R.S. § 47-3201(B), which was not done by MERS.”
— Ariz. Rev. Stat. § 47-3201(A) — 2 cases
Fore v. Bles, 721 P.2d 151 (Ariz. Ct. App. 1986). “Arizona Revised Statutes § 47-3201 is based on “the property principle that a transferee of property, be it real property, tangible personal property or *605 intangible property, gets all of the rights of his transferor as a result of the transfer.”
Great W. Bank & Trust Co. v. Pima Sav. & Loan Ass'n, 718 P.2d 1017 (Ariz. Ct. App. 1986). “Therefore the criteria of A.R.S. § 47-3303(3) was met. Transamerica is a holder-in-due-course.”
— Ariz. Rev. Stat. § 47-3201(B) — 1 case
Wolfson v. B of a (Ariz. Ct. App. 2014). “2 2 Wolfson further asserts that the note can only be negotiated or transferred pursuant to A.R.S. § 47-3201(B), which was not done by MERS.”
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