In order for a lending institution to successfully take real estate through foreclosure litigation and have the real estate sold at a sheriff sale, the property needs to have a clear title. What many do not understand is that...more
That pesky excess sale proceeds statute, A.R.S. ยง 33-727, is making waves again. We previously blogged about this statute... In the prior post, we explained that excess sale proceeds (i.e., a foreclosure sale price greater...more
When a foreclosure sale generates more money than needed to pay off the lien, the excess proceeds usually go first to creditors in the order of their priority, and second to the owner after creditors are paid in full. So, in...more