AZ Underwriting Summary

Search/Exam

• Minimum Search Requirements -- No state law sets minimum period of time for a title search but a title plant must typically have a minimum 40 year chain;

There is not a marketable record title act in Arizona.

• Plant or other search restrictions -- Yes if over 100k population in county. Department of Insurance Link. Title plant maintenance includes being a lessee or joint owner of a title plant. Alternatively, you may base your title policy on a title policy issued to you from a title insurer who does maintain such a title plant in the respective county or counties.

• Additional Requirements for REO Searches -- No

• Special Searches Required (Code, HOA, Utilities)? Included in normal search

• Survey Requirements
  • Purchase – no
  • Refinance - no

UPL

• Doc prep is UPL
• Arizona state law does not require attorney or abstractor involvement; however policies must be issued by a licensed issuing agent with Dept. of Insurance with an Arizona licensed title insurer.
  • Rule 31, Rules of the Supreme Court of Arizona
  • State Bar of Ariz. v. Arizona Land Title & Trust Co., 366 P.2d 1, 12 (Ariz. 1961)

Spousal Joinder Requirements/Homestead

Joinder by non-title spouse not required by law. However Arizona is a community property state.

Time Limitations

• US Judgment Liens 20 years, renewable for 20 years

• State Court Judgment Liens 5 years

• Child Support notice of deficiency -- Defense 10 years after emancipation of the youngest child (18, marriage, death) A.R.S. § 25-503(J)

• Federal Tax Liens 10 years (+30 days); can be refiled

• State Tax Liens

• Estate Tax Lien Federal 10 years

• State Inheritance Tax Liens

• Mechanics Liens 6 months, if no law suit filed

• Financing Statements 5 years

• Mortgages

• HOA Liens 2 years

• Condominium assessments 2 years

Odd Stuff

• Title insurer has statutory authority to release subject to the requirements in A.R.S. 33-707.

• Arizona Department of insurance is the governing body where both rates and forms are filed. DOI Website

• Usury endorsement is available. The statutory maximum rate of interest is 10% per annum, unless a different rate is contracted for in writing, in which case any rate of interest may be agreed upon. ARS 44-1201. Usury also constitutes a misdemeanor crime. ARS 13-2208.