Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of March 08, 2022 | Updated by FindLaw Staff
A. If any installment is delinquent, the governing body may order that the whole of the unpaid principal amount of the assessment become immediately due and payable, and be collected by summary sale proceedings pursuant to § 35-482.
B. If such order is made, the amount for which the property is to be sold shall include, in addition to the delinquent installments, penalties, interest and charges, the other amounts necessary to prepay such assessment in full computed pursuant to applicable law.
C. If such order is made, the owner or persons interested may, at any time prior to sale, pay the delinquent installments, with interest, penalties and charges, and thereupon be restored to the right thereafter to pay in installments in the same manner as if default has not occurred, and the amount of interest, penalties and charges which shall accrue shall be unaffected by exercise of the option to accelerate hereby provided.
D. Notices pursuant to § 35-482 shall, when the option to accelerate has been exercised, so state and shall state the unpaid principal balance of the assessment for which the property is to be sold.
Cite this article: FindLaw.com - Arizona Revised Statutes Title 35. Public Finances § 35-483. Option to accelerate upon delinquency - last updated March 08, 2022 | https://codes.findlaw.com/az/title-35-public-finances/az-rev-st-sect-35-483/
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.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)