Courts overseeing receivers generally enjoy broad discretion in directing and approving a receiver’s proposed actions. But does that authority extend to a receiver not only granting a super-priority lien ahead of existing...more
Arizona’s trustee’s sale statutory scheme provides for the waiver of all defenses and objections to a trustee’s sale that: (i) are not raised prior to the sale, and (ii) do not result in an injunction against the sale going...more
2/26/2018
/ Action to Quiet Title ,
Appeals ,
AZ Supreme Court ,
Borrowers ,
Damages ,
Deed of Trust ,
Injunctions ,
Lenders ,
Loans ,
Motion to Dismiss ,
Promissory Notes ,
Signatures ,
Trustee Sales ,
Trustees ,
Waivers ,
Wrongful Foreclosures
What law governs a deficiency action if the choice-of-law provisions in the note and deed of trust conflict? The Arizona Court of Appeals answered that very question in ZB, N.A. v. Hoeller, No. 1 CA-CV 16-0071 (Ct. App. April...more
5/3/2017
/ Appeals ,
Banks ,
Choice-of-Law ,
Commercial Mortgages ,
Conflicts of Laws ,
Deed of Trust ,
Deficiency Judgments ,
Foreclosure ,
Lenders ,
Promissory Notes ,
Reversal ,
Statute of Limitations ,
Time-Barred Claims ,
Trustee Sales
Believe it or not, lenders can breach loan agreements too…and when they do, there can be significant consequences. In Great Western Bank v. LJC Dev., LLC, 726 Ariz. Adv. Rep. 21 (Ariz. Ct. App. Nov. 10, 2015), the Court of...more
When no statute specifically authorizes a court-appointed receiver to sell real property, what type of sale is it? The Supreme Court of Nevada recently addressed this question, holding that “a receiver sale of real property...more
Since a lender must have a valid debt and valid lien to conduct a trustee’s sale, a borrower that allows the foreclosure sale to occur impliedly agrees that the debt and lien are valid. In Madison v. Groseth and BT Capital,...more
5/29/2014
/ Appeals ,
Borrowers ,
Breach of Contract ,
Debt ,
Default ,
Deficiency Judgments ,
Delinquent Borrowers ,
Foreclosure ,
Lenders ,
Liens ,
Mortgages ,
Trustee Sales ,
Trustees
If a lender delays foreclosure allowing years of default interest to accrue such that a guarantor’s obligation increases from $6 million to $12 million, should the guarantor remain on the hook for the full $12 million? In...more
In Parkway Bank & Trust Co. v. Zivkovic, 662 Ariz. Adv. Rep. 26 (Ct. App. 2013), the Arizona Court of Appeals held that provisions in loan documents purporting to waive the applicability of A.R.S. § 33-814(G) violate Arizona...more
In Independent Mortgage v. Alaburda, the Arizona Court of Appeals held that Arizona’s anti-deficiency statute, A.R.S. § 33-814(G), precluded a lender from suing its borrowers for a deficiency after foreclosing on the...more