2013 Arizona Revised Statutes
Title 42 - Taxation
§ 42-18054 Tax statements for mortgaged property


AZ Rev Stat § 42-18054 (through 1st Reg Sess 51st Leg. 2013) What's This?

42-18054. Tax statements for mortgaged property

A. If property that is subject to taxation by the county assessor is mortgaged and the mortgagee, or a person acting for the mortgagee, by the terms of the mortgage agreement pays the tax on behalf of the mortgagor:

1. The county treasurer, on request, shall mail a statement of taxes due on the property to the mortgagor, at the mortgagor's last known address, and to the mortgagee. The tax statement sent to the mortgagor shall be a written document. The tax statement sent to the mortgagee may be in any form established by the county treasurer.

2. The liability for the tax, and any subsequent interest, fees and penalties, does not depend on either the mortgagor or the mortgagee receiving the tax statement.

B. When a mortgagee either continues to receive or possesses an unsatisfied tax statement from the county treasurer after the mortgage is satisfied, the mortgagee shall either:

1. Return the tax statement to the county treasurer within thirty working days, together with the last known address of the mortgagor as shown on the records of the mortgagee.

2. Forward the tax statement or current taxes due information to the mortgagor and notify the county treasurer of this action.

C. If a mortgagee fails to comply with subsection B, and as a result of the mortgagee's failure to comply the tax on the mortgagor's property becomes delinquent, the mortgagee is liable to the mortgagor for all interest and penalties imposed by law for the delinquent tax.

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