Homestead Now Protects Up To $400,000 Of Equity In Arizona

A homestead protects the equity in a person’s qualified property from attachment, execution and forced sale by creditors. The Arizona homestead exemption is governed by A.R.S. § 33-1101, which lays out the types of properties that qualify as homesteads, as well as the requirements for establishing a homestead exemption. The statute provides that any person…

Foreclosure And Deficiency Judgments In Arizona

A.R.S. 33-814, Arizona’s residential anti-deficiency statute, generally prohibits a deficiency judgment against a borrower for a loan secured by the borrower’s personal residence if the property is two-and-a-half acres or less and is used for a single one-family or two-family dwelling. In pertinent part, the statute provides that…