Arizona § 33-2623 Effect of enforcement by mortgagee

Arizona Statutes

§ 33-2623 — Effect of enforcement by mortgagee

Arizona § 33-2623

Title 33Arizona Revised Statutes

Ch. 24UNIFORM COMMERCIAL REAL ESTATE RECEIVERSHIP ACT

Art. 1General Provisions

This text of Arizona § 33-2623 (Effect of enforcement by mortgagee) 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. § 33-2623 (2026).

Text

A request by a mortgagee for appointment of a receiver, the appointment of a receiver or application by a mortgagee of receivership property or proceeds to the secured obligation does not:

1.Make the mortgagee a mortgagee in possession of the real property.

2.Make the mortgagee an agent of the owner.

3.Constitute an election of remedies that precludes a later action to enforce the secured obligation.

4.Make the secured obligation unenforceable.

5.Limit any right available to the mortgagee with respect to the secured obligation.

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A request by a mortgagee for appointment of a receiver, the appointment of a receiver or application by a mortgagee of receivership property or proceeds to the secured obligation does not:

1. Make the mortgagee a mortgagee in possession of the real property.

2. Make the mortgagee an agent of the owner.

3. Constitute an election of remedies that precludes a later action to enforce the secured obligation.

4. Make the secured obligation unenforceable.

5. Limit any right available to the mortgagee with respect to the secured obligation.