New Legislation Impacts Tax Lien Certificates

Arizona recently introduced legislation that modifies the expiration of tax lien certificates. A.R.S. § 42-18127 now specifies that the original tax lien and all subsequent liens on a property have a 10-year statutory limit based on the date that the original lien was acquired. Under the previous law, each individual sub lien had a 10-year statutory limit based on its own date of purchase. This is a significant change, as it may reduce the time frame you have to foreclose on a tax lien property. The new law goes into effect for all tax liens eligible for expiration beginning September, 2019.
In light of this change, we recommend that you review your portfolio to determine if any of your tax liens are set to expire sooner than you originally thought. Don’t risk your investment by waiting too long and missing the window of opportunity to begin a foreclosure action.
At Hymson Goldstein Pantiliat & Lohr, PLLC, we understand the complexities of property tax lien investing and strive to help our clients understand and plan when there are changes in the law that impact them. After all, Our Business Is Your Peace of Mind®.

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