Arizona Laws 42-18121. Payment of subsequent taxes by certificate holder; separate certificate of purchase by assignment; fee
A. On or after June 1, if a person who holds a certificate of purchase desires to pay subsequent taxes, accrued interest and related fees due on the property, the person shall exhibit the certificate or receipt of registered certificate to the county treasurer. The treasurer shall enter the amount of the payment on the certificate and on the record of tax lien sales. The amount of subsequent taxes bears interest at the rate stated in the certificate of purchase from the first day of the month following the purchase of the subsequent tax lien. The county treasurer shall collect a fee of five dollars from the holder of the certificate for making the entries.
Terms Used In Arizona Laws 42-18121
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
- Person: means a natural person, individual, proprietor, proprietorship, company, corporation, organization, association, joint venture, partner, partnership, trust, estate or limited liability company, the federal or state government, a political subdivision of a state or any other legal entity or combination of entities that owns, controls or has possession of real or personal property. See Arizona Laws 42-11001
- Population: means the population according to the most recent United States decennial census. See Arizona Laws 1-215
- Property: includes both real and personal property. See Arizona Laws 1-215
B. Beginning in calendar year 2016, on or after June 1 in a county with a population of more than three million persons if no prior year certificates of purchase are outstanding, if a person who holds a certificate of purchase for tax year 2014 and afterwards desires to pay subsequent taxes, the county treasurer shall issue a separate certificate of purchase by assignment for each subsequent year’s taxes, accrued interest and related fees due on the property. The principal amount of each subsequent year’s certificate of purchase bears interest at the rate stated in the original certificate of purchase exhibited by the person from the first day of the month following the purchase of the subsequent certificate. The treasurer shall collect a fee of five dollars for assignment of a certificate of purchase for each subsequent year. Except as provided by section 42-18201, subsection B, subsequent certificates of purchase by assignment carry the same foreclosure right as the original certificate of purchase, and partial payments shall be accepted by the treasurer as prescribed by section 42-18056, subsection C, by any party with a vested interest in the property.