Arizona § 33-1229 Rights of secured lenders

Arizona Statutes

§ 33-1229 — Rights of secured lenders

Arizona § 33-1229

Title 33Arizona Revised Statutes

Ch. 9CONDOMINIUMS

Art. 2Creation, Alteration and Termination of Condominiums

This text of Arizona § 33-1229 (Rights of secured lenders) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 33-1229 (2026).

Text

The declaration may require that all or a specified number or percentage of the mortgagees, beneficiaries of deeds of trust or sellers under contracts, as defined in section 33-741, for conveyance of real property encumbering the units approve specified actions of the unit owners or the association as a condition to the effectiveness of those actions, but requirement for approval shall not operate to either:

1.Deny or delegate control over the general administrative affairs of the association by the unit owners or the board of directors.

2.Prevent the association or the board of directors from commencing, intervening in or settling any litigation or proceeding, or receiving and distributing any insurance proceeds pursuant to section 33-1253.

Free access — add to your briefcase to read the full text and ask questions with AI

The declaration may require that all or a specified number or percentage of the mortgagees, beneficiaries of deeds of trust or sellers under contracts, as defined in section 33-741, for conveyance of real property encumbering the units approve specified actions of the unit owners or the association as a condition to the effectiveness of those actions, but requirement for approval shall not operate to either:

1. Deny or delegate control over the general administrative affairs of the association by the unit owners or the board of directors.

2. Prevent the association or the board of directors from commencing, intervening in or settling any litigation or proceeding, or receiving and distributing any insurance proceeds pursuant to section 33-1253.