Arizona Laws 20-514. Valuation of purchase money mortgages
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Purchase money mortgages on real property referred to in subsection A of section 20-513 shall be valued in an amount not exceeding the acquisition cost of the real property covered thereby or ninety per cent of the fair value of such real property, whichever is less.
Terms Used In Arizona Laws 20-514
- Property: includes both real and personal property. See Arizona Laws 1-215
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.