Arizona Laws 43-567. Lien for tax on trust income
A. Upon the recording of an abstract of judgment or a copy thereof by the department with the county recorder of any county for any taxes, interest and penalties due from the grantor of the trust on income of the trust which is taxable to the grantor under chapter 13 of this title, and upon its giving notice of the recording to the fiduciary or fiduciaries of the trust, the amount of the taxes, interest and penalties constitute a lien upon all property of the trust in the county owned by the trust and any property acquired before the expiration of the lien. The lien has the force, effect and priority of a judgment lien.
Terms Used In Arizona Laws 43-567
- Abstract of judgment: In a federal criminal proceeding, A certification from a U.S. District Court clerk that a judgment of restitution was entered against the defendant owing to the victim. If the defendant inherits, owns, or sells real property or holdings, these assets can then be attached at the state and local levels as well.
- Department: means the department of revenue, the director or the director's authorized delegate, as the context requires. See Arizona Laws 43-104
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: means a guardian, trustee, personal representative, executor, administrator, receiver or conservator, whether individual or corporate, or any person acting in any fiduciary capacity for any person, estate or trust. See Arizona Laws 43-104
- Grantor: The person who establishes a trust and places property into it.
- Grantor: includes every person from or by whom an estate or interest in real property passes, in or by a deed. See Arizona Laws 1-215
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: includes both real and personal property. See Arizona Laws 1-215
- Registered mail: includes certified mail. See Arizona Laws 1-215
B. The notice required to be given by subsection A of this section may be served upon the fiduciary personally or by mail. If made by mail, service shall be made by registered mail and shall be addressed to the fiduciary at his address as it appears in the records of the department.