The Arizona Revised Statutes have been updated to include the revised sections from the 53rd Legislature, 2nd Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 54th Legislature, 1st Regular Session, which convenes in January 2019.
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33-709 - Acknowledgment of satisfaction by personal representative of mortgagee to whom indebtedness was paid before death
33-709. Acknowledgment of satisfaction by personal representative of mortgagee to whom indebtedness was paid before death
The executor or administrator of a mortgagee or of the holder or owner of an indebtedness secured by a mortgage or deed of trust shall, if the indebtedness was paid to the decedent in his lifetime, acknowledge satisfaction thereof by delivering to such person a sufficient release, satisfaction of mortgage or deed of release of the mortgage or deed of trust or acknowledge satisfaction as provided in subsection C of section 33-707. If the executor or administrator, upon proof to him of the payment of the indebtedness to his decedent, does not, within thirty days, acknowledge satisfaction by delivering to the person owning the property a sufficient release, satisfaction of mortgage or deed of release, or acknowledge satisfaction as provided in subsection C of section 33-707, he shall personally forfeit to the party aggrieved one hundred dollars and be personally liable for the damages thereby sustained. The executor or administrator shall not be liable to the estate of which he is executor or administrator for any indebtedness by mortgage or deed of trust released by him in accordance with this section.