No Anti-Deficiency Protection Without Starting Construction of a Structure on a Vacant Lot
Last week the Court of Appeals in the Wildwood decision, 1 CA - CV 12-0728, ruled that the borrower was liable for a deficiency after foreclosure on a vacant lot. The Court of Appeals rejected the borrower's argument that the intent to build a home on the vacant lot would qualify the borrower for anti-deficiency protection. The Court of Appeals said that the "plain language" of the "dwelling" provision in the anti-deficiency statutes required at least the beginning of construction of a "structure" intended to be used for a home.
The Shanna Day Dream Home Team recommends our preferred Real Estate Attorney:
Christopher A. Combs
Chris graduated from Arizona State University with a B.S. in Political Science with honors. He received his Juris Doctor, with honors, from the University of Arizona where he was a member of the Law Review. After law school Chris was a Captain, Judge Advocate Division, U.S. Marine Corps, and an attorney with the Chief Counsel’s office, Internal Revenue Service, Washington, D.C. Chris has served as President of the Maricopa County Bar Association and as President of the Phoenix Symphony Council. Chris is a State Bar of Arizona certified real estate specialist and an Arizona licensed real estate broker. Chris was also a director of the Arizona Trial Lawyers Association. He writes a weekly column for the Arizona Republic. Chris is a former member of the Pittsburgh Pirates minor league baseball organization.
Christopher A. Combs
2200 E. Camelback Road
Suite 221
Phoenix, AZ 85016
T: (602) 957-9810
F: (602) 955-4712
Email: Chris@combslawgroup.com
Paralegal: Lisa O’Brien
Email: Lisa@combslawgroup.com
No Anti-Deficiency Protection Without Starting Construction of a Structure on a Vacant Lot
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