HB4050

Arizona HB4050 amends laws on homeowners' associations, detailing foreclosure processes for unpaid assessments and clarifying the priority of common.

Arizona HB4050 modifies provisions concerning homeowners' associations, specifically addressing the foreclosure process for unpaid assessments. The bill stipulates that a common expense lien may be foreclosed if the unit owner has been delinquent for eighteen months or the amount due reaches $10,000. It also outlines the priority of common expense liens, stating they are prior to other liens except those recorded before the declaration or a first mortgage.