The proposed bill, if enacted, would amend several sections of the Arizona Revised Statutes related to judicial foreclosure of the right of redemption. It would allow purchasers or their heirs to include a request in their foreclosure action to determine the reasonableness of the sale of property to recover excess proceeds. This request could be made at any time before the court's judgment is effective. Additionally, the bill clarifies that the sale must occur within 60 days after the judgment unless otherwise specified, and it corrects statutory references regarding minimum and opening bids.

Furthermore, the bill specifies that any party entitled to proceeds from the sale can initiate a civil action against the qualified entity if it fails to distribute the proceeds properly. It also clarifies that liens and encumbrances on the delinquent taxpayer's other properties are not affected by the sale unless satisfied from the proceeds. Overall, these updates aim to enhance the clarity and efficiency of the judicial foreclosure process while ensuring that the rights of all parties involved are protected.

Statutes affected:
Introduced Version: 42-18201, 42-18204, 42-18233, 42-18234, 42-18235, 42-18236, 42-18114, 42-18121, 42-18116, 9-276, 9-499, 42-18232
House Engrossed Version: 42-18201, 42-18204, 42-18233, 42-18234, 42-18235, 42-18236, 42-18114, 42-18121, 42-18116, 9-276, 9-499, 42-18232