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, their heirs, or assignees to include a request in their foreclosure action to determine the reasonableness of the sale of property to recover excess proceeds. This request must be made before the court's judgment becomes 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 liens and encumbrances on the delinquent taxpayer's other properties remain unaffected if the tax lien is not satisfied. It also allows any party entitled to proceeds from the sale to initiate a civil action against the qualified entity for failure to distribute proceeds properly, with the possibility of recovering attorney fees and costs. Overall, these updates aim to enhance the clarity and efficiency of the judicial foreclosure process while ensuring fair treatment of all parties involved.

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