Bill Text: AZ HB2519 | 2013 | Fifty-first Legislature 1st Regular | Introduced
Bill Title: Assignment of tax lien
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2013-03-14 - House majority caucus: Do pass [HB2519 Detail]
Download: Arizona-2013-HB2519-Introduced.html
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REFERENCE TITLE: assignment of tax lien |
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State of Arizona House of Representatives Fifty-first Legislature First Regular Session 2013
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HB 2519 |
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Introduced by Representative Olson
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AN ACT
amending title 42, chapter 17, article 4, Arizona Revised Statutes, by adding section 42-17155; relating to collection of property taxes.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 42, chapter 17, article 4, Arizona Revised Statutes, is amended by adding section 42-17155, to read:
42-17155. Assignment of tax lien
A. The county treasurer shall assign to a third party a lien against real property that arises under section 42-17153, if the county treasurer receives both of the following:
1. A written authorization from the owner of the real property to assign the lien to the third party.
2. Payment in the amount of the taxes, interest and penalties due on the real property.
b. The property owner may authorize the assignment of the tax lien only before the sale of the tax lien pursuant to section 42‑18114 or 42‑18122.
C. The county treasurer shall assign the lien to the third party by issuing a receipt to the third party in the form prescribed in section 42‑18055. An assignment of the lien does not affect its priority.
D. The owner of the real property and the third party may enter into an agreement for payment of all amounts secured by the lien, including amounts paid as consideration for the assignment, reasonable and necessary transaction costs, interest at a rate not to exceed the rate prescribed in section 42‑18053 the total of the consideration and transaction costs and reasonable collection costs.
E. The assignment and payment agreement shall be filed with the county recorder and are prima facie evidence of the valid assignment and priority of the lien.
F. If the property owner defaults on the payment agreement, the assignee of the tax lien may foreclose as provided in section 33‑721.
