Arizona Excess Funds List
Arizona delinquent payment collection goes with a Judicial Foreclosure process. It starts with filing a compliant in the county superior court.
Tax Deed Sales are initiated by a Certificate of Purchase holder after 3 years of waiting period from the tax lien sale.
Mortgage Foreclosures are primarily non-judicial where lender uses a trustee to sell the property by using their power of sale authoritiship.
Related Statutes for Foreclosure and Surplus Funds
33-812. Disposition of proceeds of sale
~ P. A claimant may enter into an agreement with a third party to pay for the recovery of or for assistance in the recovery of excess proceeds on deposit with the county treasurer. The agreement shall be in writing, signed by the claimant, and the claimant’s signature shall be acknowledged by a notary public or other person authorized to accept an acknowledgment pursuant to section 33-511. Any agreement entered into before the expiration of thirty days after the date the trustee’s sale was held, but not including the date of the sale, is void and unenforceable. Any fee or payment provided for in an agreement shall be reasonable.
The fee or payment shall be presumed to be unreasonable and the obligation to pay the fee or payment is unenforceable if the fee or payment agreed on exceeds two thousand five hundred dollars excluding attorney fees and the costs of filing the claim and providing the statutorily required notices. Any person seeking a fee or payment exceeding two thousand five hundred dollars may apply to the court for additional compensation but the person has the burden of establishing that the additional compensation is reasonable under the circumstances. This subsection does not preclude a claimant from contesting the reasonableness of any fee or payment that is provided for in an agreement for the recovery of or for assistance in the recovery of excess proceeds.