LAWS

Mortgages of real property and deeds of trust in Arizona are foreclosed by action in a court.

Arizona foreclosure law states that when a mortgage or deed of trust is foreclosed, the court shall give judgment for the entire amount determined due, and shall direct the mortgaged property, or as much thereof as is necessary to satisfy the judgment, to be sold.

Arizona foreclosure law regarding Notice of trustee's sale states that

The trustee shall give written notice of the time and place of sale legally describing the trust property to be sold by each of the following methods:

• Recording a notice in the office of the recorder of each county where the trust property is situated.
• Giving notice as provided in section 33-809 to the extent applicable.
• Posting a notice, at least twenty days before the date of sale in some conspicuous place on the trust property to be sold, if posting can be accomplished without a breach of the peace.
• Publication of sale notice in a newspaper of general circulation in each county in which trust property to be sold is situated. Sale notice shall be published at least once a week for four consecutive weeks.
• The sale shall be held at the time and place designated in the notice of sale.

The notice of sale shall contain:

• The date, time and place of the sale. This date shall be at least ninety days after the date that the notice of sale was recorded.
• The street address, if any, or identifiable location as well as the legal description of the trust property.
• The county assessor's tax parcel number for the trust property or the tax parcel number of a larger parcel of which the trust property is a part.
• The original principal balance as shown on the deed of trust. If the amount is not shown on the deed of trust, it shall be listed as "unspecified".
• The names and addresses, as of the date the notice of sale is recorded, of the beneficiary and the trustee, the name and address of the original trustor as stated in the deed of trust, the signature of the trustee and the basis for the trustee's qualification pursuant to section 33-803, subsection A. The address of the beneficiary shall not be in care of the trustee or trustee's agent.
• The telephone number of the trustee.

Arizona foreclosure law regarding Sale by public auction states that   on the date and at the time and place designated in the notice of sale, the trustee shall offer to sell the trust property at public auction for cash to the highest bidder. Any person, including the trustee or beneficiary, may bid at the sale.

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