HB 2602 Summary

• Adds section 33-1262 to Arizona Revised Statutes regarding condominium properties that have been foreclosed and acquired by the foreclosing beneficiary at a trustee's sale.

• Allows the homeowners' association to inspect the exterior of foreclosed properties and, after providing notice to the owner, remove rubbish, trash, weeds, debris, and repair dilapidated structures that pose a hazard to public health and safety.

• Makes the property owner liable to the association for reasonable costs of removal or repair work performed under this section.

• Grants the association the authority to place a lien on the property for costs reasonably incurred in the removal or repair work.

• Adds identical provisions in section 33-1817 for planned community properties subject to the same foreclosure and ownership circumstances.