§ 33-806 — Transfers in trust of real property; uses

Arizona § 33-806

• Jurisdiction: Arizona
• Title 33: Arizona Revised Statutes
• Ch. 6: DEEDS OF TRUST
• Art. 1: General Provisions

Text

A. Transfers of trust property may be made to secure the performance of a contract or contracts of the trustor or any other person. An interest in the trust property acquired by the trustor subsequent to the execution of the trust deed shall inure to the trustee as security for the contract or contracts for which the trust property is conveyed as if the interest or claim had been acquired before execution of the trust deed.

B. The trustee or beneficiary shall have a right to maintain an action against any person, including the trustor, for a claim for relief where damage or injury occurs or may occur to the trust property or interests therein, including but not limited to actions for damages or to prevent:

1. Physical abuse to or destruction of the trust property, or any portion thereof.

2. Waste.

3. Impairment of the security provided by the trust deed. In any such action the trustee or beneficiary, or both, shall also be entitled to recover costs and reasonable attorney's fees and shall be entitled to all remedies available. Recovery of damages under this section shall be limited to damages or injuries incurred during the time the trustor is in possession or control of the trust property. The provisions of section 33-814 shall in no manner restrict or limit the provisions of this section.