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Well, despite rising interest rates, the Pima County tax lien sale saw interest rates hit historic lows – down to one and two percent on improved properties. Arizona real property tax liens are sold on a bid-down basis. This means that each lien starts at a potential 16% statutory maximum and is bid down to a level that an investor is willing to accept for that particular lien.
While banks (JP Morgan most notably) have long invested in tax liens, shortly after the financial crisis, hedge funds started to show up at Arizona tax lien sales in full force. As
Continue Reading 2018 Pima County Tax Lien Sale

Well, despite rising interest rates, the Pima County tax lien sale saw interest rates hit historic lows – down to one and two percent on improved properties. Arizona real property tax liens are sold on a bid-down basis. This means that each lien starts at a potential 16% statutory maximum and is bid down to a level that an investor is willing to accept for that particular lien.
While banks (JP Morgan most notably) have long invested in tax liens, shortly after the financial crisis, hedge funds started to show up at Arizona tax lien sales in full force. As
Continue Reading 2018 Pima County Tax Lien Sale

For as safe as tax liens are touted, there is a risk of loss, especially during the tax lien foreclosure stage. While Arizona Revised Statutes Section 42-18206 provides a remedy to collect attorney’s fees and costs that have been incurred by the tax lien investor, timely service of process of the tax lien foreclosure complaint is crucial.
For example, if an owner of property or an interested party (e.g., judgment holder, deed of trust holder) redeems the tax lien before being served, the tax lien holder will be left holding the bag on attorney’s fees and costs. However, if the
Continue Reading Tax Liens and Money Judgments

For as safe as tax liens are touted, there is a risk of loss, especially during the tax lien foreclosure stage. While Arizona Revised Statutes Section 42-18206 provides a remedy to collect attorney’s fees and costs that have been incurred by the tax lien investor, timely service of process of the tax lien foreclosure complaint is crucial.
For example, if an owner of property or an interested party (e.g., judgment holder, deed of trust holder) redeems the tax lien before being served, the tax lien holder will be left holding the bag on attorney’s fees and costs. However, if the
Continue Reading Tax Liens and Money Judgments

In July 2015, William Merideth was cited for criminal mischief and wanton endangerment after shooting down a drone hovering in his “backyard.”  Merideth told police that he shot the drone because he did not know if the drone was operated by “a predator looking at my children.” Bullitt County Judge Rebecca Ward cleared Mr. Merideth of first-degree endangerment and criminal mischief charges, ruling: “I think it’s credible testimony that his drone was hovering from anywhere, for two or three times over these people’s property, that it was an invasion of their privacy and that they had the right to shoot this drone,” Judge Ward told the
Continue Reading The Drone Slayer – Drones & Trespassing

In July 2015, William Merideth was cited for criminal mischief and wanton endangerment after shooting down a drone hovering in his “backyard.”  Merideth told police that he shot the drone because he did not know if the drone was operated by “a predator looking at my children.” Bullitt County Judge Rebecca Ward cleared Mr. Merideth of first-degree endangerment and criminal mischief charges, ruling: “I think it’s credible testimony that his drone was hovering from anywhere, for two or three times over these people’s property, that it was an invasion of their privacy and that they had the right to shoot this drone,” Judge Ward told the
Continue Reading The Drone Slayer – Drones & Trespassing

So, you have likely heard it pitched that there is little risk investing in tax liens.  By and large, that maxim rings true.  Most people purchase tax liens because they can achieve a very high interest rate and know that the lien they have purchased is secured by the underlying real property.  The dynamics of the Arizona tax lien market have changed over time with more and more investors and large hedge funds and banks gobbling up tax liens at very low interest rates.  If you are a tax lien investor that has a number of liens that are ready
Continue Reading Recovering Fees & Costs in a Tax Lien Foreclosure Case

So, you have likely heard it pitched that there is little risk investing in tax liens.  By and large, that maxim rings true.  Most people purchase tax liens because they can achieve a very high interest rate and know that the lien they have purchased is secured by the underlying real property.  The dynamics of the Arizona tax lien market have changed over time with more and more investors and large hedge funds and banks gobbling up tax liens at very low interest rates.  If you are a tax lien investor that has a number of liens that are ready
Continue Reading Recovering Fees & Costs in a Tax Lien Foreclosure Case

When does an Arizona tax lien certificate of purchase expire?  This was the only issue in Span v. Maricopa County Treasurer, a 2014 Arizona Court of Appeals decision.  While this decision may not be used to cite as precedent in any case by an attorney, the discussion from the Court is useful for anyone holding tax liens in Arizona.
Arizona Revised Statutes Section (“A.R.S.”) 42-18208(A) states: If a tax lien that was purchased pursuant to A.R.S. Section 42-18114 on or before August 31, 2002 is not redeemed and the purchaser or the purchaser’s heirs or assigns fail to commence an action
Continue Reading Arizona – When Does a Tax Lien Expire?

When does an Arizona tax lien certificate of purchase expire?  This was the only issue in Span v. Maricopa County Treasurer, a 2014 Arizona Court of Appeals decision.  While this decision may not be used to cite as precedent in any case by an attorney, the discussion from the Court is useful for anyone holding tax liens in Arizona.
Arizona Revised Statutes Section (“A.R.S.”) 42-18208(A) states: If a tax lien that was purchased pursuant to A.R.S. Section 42-18114 on or before August 31, 2002 is not redeemed and the purchaser or the purchaser’s heirs or assigns fail to commence an action
Continue Reading Arizona – When Does a Tax Lien Expire?

The Arizona Supreme Court just issued an Opinion in BMO Harris Bank, N.A. v. Wildwood Creek Ranch, LLC, holding that Arizona’s residential anti-deficiency statute, Arizona Revised Statute Section 33-814(G), does not bar a deficiency judgment against an owner of vacant property.  The Court specified that for the anti-deficiency protections to apply, a “dwelling” must have been completed.  The Court’s decision directly overrules a recent Arizona Court of Appeals decision in M&I Marshall Bank v. Mueller

The Mueller decision created great potential for uncertainty and the high Court was unwilling to let that uncertainty stand.  The Mueller court
Continue Reading Changes in Arizona Anti-Deficiency Law

The Arizona Supreme Court just issued an Opinion in BMO Harris Bank, N.A. v. Wildwood Creek Ranch, LLC, holding that Arizona’s residential anti-deficiency statute, Arizona Revised Statute Section 33-814(G), does not bar a deficiency judgment against an owner of vacant property.  The Court specified that for the anti-deficiency protections to apply, a “dwelling” must have been completed.  The Court’s decision directly overrules a recent Arizona Court of Appeals decision in M&I Marshall Bank v. Mueller

The Mueller decision created great potential for uncertainty and the high Court was unwilling to let that uncertainty stand.  The Mueller court
Continue Reading Changes in Arizona Anti-Deficiency Law

The Arizona Daily Star reports that Farmers Investment Co., which owns nearly 7,000 acres stretching nearly fourteen miles from Pima Mine Road to Continental Road in the Sahuarita and Green Valley area is looking to how to plan for the long-term use of this giant expanse.  The Sahuarita Planning and Zoning Commission will weigh in tonight on Farmers Investment Co.’s plans to develop the pecan farm into a master-planned community with a proposed 1,900 acres set aside for homes, 1,100 acres for businesses, and another 2,400 acres for planned mixed-use projects.
Continue Reading The Future of the Pecan Groves

The Arizona Daily Star reports that Farmers Investment Co., which owns nearly 7,000 acres stretching nearly fourteen miles from Pima Mine Road to Continental Road in the Sahuarita and Green Valley area is looking to how to plan for the long-term use of this giant expanse.  The Sahuarita Planning and Zoning Commission will weigh in tonight on Farmers Investment Co.’s plans to develop the pecan farm into a master-planned community with a proposed 1,900 acres set aside for homes, 1,100 acres for businesses, and another 2,400 acres for planned mixed-use projects.
Continue Reading The Future of the Pecan Groves

Seems drones are in the news more than ever.  A recent U.S. drone strike killed two suspected al Qaeda militants in Yemen this week, which is the first attack since U.S.-backed President Abed Rabbo Mansour Hadi said he was resigning, leaving Yemen in a state of political chaos.  Meanwhile, here in the United States, a drunken federal employee crashed his “quadcopter” onto the White House’s grounds, evading the White House radar system, which is designed to catch much bigger threats.
This incident highlights the increasing issues surrounding drone use in the United States, which include privacy, safety, land use and
Continue Reading Drones – Smugglers & Drunken Larks

Seems drones are in the news more than ever.  A recent U.S. drone strike killed two suspected al Qaeda militants in Yemen this week, which is the first attack since U.S.-backed President Abed Rabbo Mansour Hadi said he was resigning, leaving Yemen in a state of political chaos.  Meanwhile, here in the United States, a drunken federal employee crashed his “quadcopter” onto the White House’s grounds, evading the White House radar system, which is designed to catch much bigger threats.
This incident highlights the increasing issues surrounding drone use in the United States, which include privacy, safety, land use and
Continue Reading Drones – Smugglers & Drunken Larks