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Current as of March 08, 2022 | Updated by FindLaw Staff
A. If an association, developer or other managing entity files an action to foreclose the assessment lien on timeshare interests, the association, developer or other managing entity may join in the same action multiple defendant obligors and junior interest holders of separate timeshare interests, on compliance with all of the following:
1. The foreclosure proceeding involves a single timeshare plan.
2. The foreclosure proceeding is filed by a single plaintiff.
3. The default and remedy provisions in the written instruments on which the foreclosure proceeding is based are substantially the same for each defendant.
4. The nature of the defaults alleged is the same for each defendant.
B. In any foreclosure proceeding involving multiple defendants filed pursuant to subsection A, the court shall sever for separate trial any count of the complaint in which a defense or counterclaim is timely raised by a defendant.
Cite this article: FindLaw.com - Arizona Revised Statutes Title 33. Property § 33-2207. Foreclosure of assessment liens - last updated March 08, 2022 | https://codes.findlaw.com/az/title-33-property/az-rev-st-sect-33-2207/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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