The Arizona Revised Statutes have been updated to include the revised sections from the 54th Legislature, 2nd Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 55th Legislature, 1st Regular Session, which convenes in January 2021.
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
The full amount secured by a reverse mortgage security interest has the same priority over any other lien on the property as if the full amount had been disbursed on the date of the loan closing regardless of the actual date of any disbursement. The amount secured by the security interest shall include all direct payments by the borrower to the creditor or the creditor's assignee and all other loan advances permitted by the mortgage for any purpose including loan advances for interest, taxes and special assessments, premiums for hazard or mortgage insurance, servicing charges and costs of collection, regardless of when the payments or loan advances are made. The priority provided by this section applies notwithstanding any other law.