Question: Is a condo covered in the anti-deficiency statue of Arizona? My condo is one of a 4 unit building. Is that a single family dwelling? I am the only person who lives in it. Can someone please help?
Answer: For the purpose of the anti-deficiency statute, a “Qualified Property” means real property of”2.5 acres, or less,” and that is limited to and utilized as a “single-one-family or single-two-family dwelling”. However, AZ courts have held that four single-family condo units are not a Qualified Property.
April 20, 2009