Selling Tax Liens Arizona Law
In Arizona, a tax levied on real property is a lien on the assessed property. Ariz. Rev. Stat. ("A.R.S.") section 42-17153(A) (Supp. 2005).
To secure the payment of unpaid delinquent taxes on real property, county treasurers are authorized to sell tax liens, which are interest-bearing investments. A.R.S. 42-18101 (1999); Bauza Holdings, L.L.C. v. Primeco, Inc., 199 Ariz. 338, 339, P2, 18 P.3d 132, 133 (App. 2001).
The purchaser of a tax lien receives a certificate of purchase, also known as a tax lien certificate, that discloses, among other information, the date of the sale and the tax year or years for which the tax lien was sold. A.R.S. 42-18118 (Supp. 2005).
The tax lien certificate serves as evidence entitling the holder to a deed to the real property if certain statutory conditions are met. Daystar Inv., L.L.C. v. Maricopa County Treasurer, 207 Ariz. 569, 570, P3, 88 P.3d 1181, 1182 (App. 2004).