The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
42-18116 - Payment; resale or recovery on reneged bid; processing fee
42-18116. Payment; resale or recovery on reneged bid; processing fee
A. The purchaser of a tax lien shall pay the purchase price in cash at a time the county treasurer determines but within fifteen days after the close of the sale.
B. If the purchaser fails to pay the amount due:
1. The county treasurer shall resell the tax lien if the sale has not been closed.
2. If the sale has been closed, the treasurer may either:
(a) Recover the amount bid by civil action in a court of competent jurisdiction.
(b) Prohibit the purchaser who failed to pay the amount due from purchasing tax liens from any county in this state for a period of not more than one year.
C. The purchaser shall pay a processing fee of not more than $10 per tax lien. The treasurer shall deposit monies collected pursuant to this subsection in the taxpayers' information fund established by section 11-495.