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REFERENCE TITLE: foreclosure deeds; buyer identification |
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State of Arizona House of Representatives Forty-ninth Legislature Second Regular Session 2010
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HB 2479 |
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Introduced by Representative Konopnicki
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AN ACT
amending sections 12-1286 and 33-401, Arizona Revised Statutes; relating to real property conveyances.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 12-1286, Arizona Revised Statutes, is amended to read:
12-1286. Execution and delivery of deed by sheriff
A. At the expiration of all the applicable periods of redemption as provided in section 12‑1282, and not sooner, the sheriff shall execute and deliver a deed to the property sold to the purchaser at the sale, or in case redemption is made by a redemptioner, then to the last redemptioner redeeming the property.
B. Within ten days after the date of execution of the deed, the sheriff shall record the sheriff's deed in the office of the county recorder for the county in which the property is located. In every sheriff's deed in which the grantee, purchaser or redemptioner is subject to regulation pursuant to title 6, 10 or 29, or would be subject to regulation pursuant to title 6, 10 or 29 if doing business in this state, the grantee's, purchaser's or redemptioner's name and address and the state in which the grantee, purchaser or redemptioner is incorporated, organized, licensed, chartered or registered shall be set forth fully, together with the name of the country under which the grantee, purchaser or redemptioner is chartered or formed.
Sec. 2. Section 33-401, Arizona Revised Statutes, is amended to read:
33-401. Formal requirements of conveyance; writing; subscription; delivery; acknowledgment; defects
A. No estate of inheritance, freehold, or for a term of more than one year, in lands or tenements, shall be conveyed unless the conveyance is by an instrument in writing, subscribed and delivered by the party disposing of the estate, or by his agent thereunto authorized by writing.
B. Every deed or conveyance of real property must be signed by the grantor and must be duly acknowledged before some officer authorized to take acknowledgments.
C. In every deed or conveyance of real property in which the grantee is subject to regulation pursuant to title 6, 10 or 29, or would be subject to regulation pursuant to title 6, 10 or 29 if doing business in this state, the grantee's name and address and the state in which the grantee is incorporated, organized, licensed, chartered or registered shall be set forth fully, together with the name of the country under which the grantee is chartered or formed.
C. D. For the purposes of this section, a deed or conveyance containing any defect, omission or informality in the certificate of acknowledgment and which has been recorded for longer than ten years in the office of the county recorder of the county in which the property is located shall be deemed to have been duly acknowledged on and after the date of its recording.