Arizona § 35-707 Assumption of mortgage loans

Arizona Statutes

§ 35-707 — Assumption of mortgage loans

Arizona § 35-707

Title 35Arizona Revised Statutes

Ch. 5INDUSTRIAL DEVELOPMENT FINANCING

Art. 1Incorporation

This text of Arizona § 35-707 (Assumption of mortgage loans) 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. § 35-707 (2026).

Text

Notwithstanding the provisions of any other law, a corporation may prohibit the assumption of any single family mortgage loan purchased by it in accordance with the provisions of section 35-706 and require prepayment of the loan if the person proposing to assume the loan or the single family dwelling unit to which the loan relates fails to meet such eligibility criteria relating to mortgagors or single family dwelling units, respectively, as may be established by the corporation as the purchaser of such loan.

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Notwithstanding the provisions of any other law, a corporation may prohibit the assumption of any single family mortgage loan purchased by it in accordance with the provisions of section 35-706 and require prepayment of the loan if the person proposing to assume the loan or the single family dwelling unit to which the loan relates fails to meet such eligibility criteria relating to mortgagors or single family dwelling units, respectively, as may be established by the corporation as the purchaser of such loan.