In a recent decision, the Arizona Supreme Court gave homeowners a clearer path to removing old debt claims from their property, even if they haven’t paid off the underlying debt. The decision sets a new precedent for property rights in the state.
Under Arizona law, lenders have six years to sue for an unpaid debt. Jose and Kirstin Aroca wanted to clear the title on their Pinal County property after the legal window to sue for their unpaid debt had closed.
The couple went to court in 2022, arguing that since Tang Investment Company could no longer sue them for the debt, it shouldn’t be able to keep a lien on their property either.
A trial court ruled for Tang, but the state Court of Appeals reversed the decision, which led to Arizona’s Supreme Court taking the case to settle it.
Tang argued that under state law, the lien should remain until 2057. But in a decision filed Monday, the Arizona Supreme Court pointed to another law that lets property owners remove the lien from their title if the enforcement deadline has passed.
The decision overturns a more than century-old case that required homeowners to pay off their debt before clearing a lien.
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About $1.5 million in restitution could be coming to residents of two apartment complexes in Mesa and Gilbert as part of settlement deals announced by Arizona Attorney General Kris Mayes.
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Arizona still has a supply and demand imbalance when it comes to housing, according to a new report from the Arizona-based think tank, Common Sense Institute.
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Each year, students from ASU’s Master of Real Estate Development program work with cities and towns on a development proposal for a particular piece of land. One recent collaboration reimagined the site of the Turf Paradise horse racing track in north Phoenix.
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As Gov. Katie Hobbs and Republican lawmakers negotiate the next state budget, dozens of local officials throughout the state are calling on them to include a new tax incentive to boost affordable housing in rural communities.
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A recent court ruling that found the state Department of Water Resources illegally changed how it evaluates whether there’s enough groundwater to approve new housing in certain parts of the Valley.