Interests which may be mortgaged; formal requirements; recording
Applied in 2 court decisions — leading case Davidson-Chudacoff/Kol-Pak of Arizona, Inc. v. Pioneer Hotel Co. (1981)
Most recently applied in Yuma Title Trust v. Lane (June 1992)
A. Any interest in real property capable of being transferred may be mortgaged.
B. A mortgage may be created, renewed or extended only by writing executed with the formalities required of a grant of real property, and may be acknowledged, certified and recorded in like manner and with like effect.
Official source: Arizona State Legislature. Reproduced from public-domain Arizona statutes; confirm against the official source for the current text. Not legal advice.